Bank of America Ordered to Face Texas Property Fees Suit
This article is for subscribers only.
Bank of America Corp. must face lawsuit claims brought by a Texas county over government fees it avoided by using Merscorp Inc. to track property transactions, a federal judge ruled.
U.S. District Judge Nelva Gonzales Ramos in Corpus Christi said the case should go to trial over most of Nueces County’s claims that the bank and other members of MERS, the electronic mortgage tracking system, have created “chaos” in the local property records system by naming MERS as the beneficiary in thousands of mortgage transactions.