MERS® System
Experience the Benefits of being a MERS® System Member!
The MERS® System is a national electronic database that tracks changes in mortgage servicing rights and beneficial ownership interests in loans secured by residential real estate.
Two of the primary benefits of being a MERS® System Member (“Member”) are:
- Saving money
- Eliminates need for certain paper assignments, thus reducing costs associated with transferring mortgage rights
- Reducing issues related to breaks of chain in the title
- At closing, the borrower and lender agree to name Mortgage Electronic Registration Systems, Inc. (MERS) as mortgagee or beneficiary on the mortgage or deed of trust
- The lender then records the mortgage in the county land records and registers the information about the loan on MERS® System
- MERS remains mortgagee in the land records as servicing rights and notes are bought and sold between active Members. No interests are transferred on the system; they are only tracked.
Who can become a member?
Membership is open to originators, servicers, lenders, brokers, and vendors serving the mortgage industry. Scroll down to apply today and join over 5,000 Members nationwide!
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What are the benefits of MERS and the MERS® System?
- Eliminates breaks in the chain of title.
- Hard dollar savings on each loan for lenders.
- Identity of servicer and investor available for free to homeowners via phone or Internet.
- Used by lenders to find undisclosed liens.
- Used by governments and code enforcement officers to find companies responsible for maintaining vacant and abandoned properties.
- Simplifies lien releases because chain of title starts and stops with MERS.
- Increases efficiency in sale of loans and servicing transfers in secondary market.
- Uses the Mortgage Identification Number (MIN) assigned to each loan for tracking throughout the life of a loan.