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

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MERS - What a Mess


There has been a lot of talk about the MERS System lately as to what the next step will be with this electronic system. The reason that MERS was created in the first place was to "lower mortgage costs and maximize its convenience." MERS has no employees; however it has 20,000 "certifying officers." These certifying officers are mortgage services, law firms and subcontractors that use the system. Many people feel that MERS was "above the law." Many people feel that MERS should be shut down completely. It has done nothing but caused major problems within the mortgage industry.