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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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M E R S


The Mortgage Electronic Registration System which is known as MERS within the mortgage industry is being sued do to all their unpaid county recording fees. MERS was developed to help simplify the mortgage process, and get rid of the need to prepare and record paper assignments of mortgages. MERS holds 67 million mortgages within its system, and there are only 45 people that actually work with MERS in an office. MERS has been rejected by multiple state court judges because it has tried to act as the bank and foreclose on customers. Congress is also possibly discussing that Fannie MAE not be able to buy any of MERS loans due to all the issues MERS has caused. This could be a huge problem with the mortgage industry.