Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers


February 12, 2016 1:06 AM ET

Internet Software and Services

Company Overview of MERSCORP, Inc.

Company Overview

MERSCORP, Inc. provides a system to streamline the mortgage process by using electronic commerce. It offers MERS System that acts as nominee in the county land records for the lender and servicer, and provides a way to originate, sell, and track mortgage ownerships and servicing. The company’s MERS system provides MERS as original mortgagee (MOM), a solution that provides standard security instruments for lenders to close loans; MERS By Assignment (non-MOM loans), which enables lenders to assign loans into MERS if the loan has already been closed in the lender's name; and MERS iRegistration that provides companies with the fraud and loan tracking benefits of a MERS System registration by reg...

1818 Library Street

Suite 300

Reston, VA 20190

United States

Founded in 1995

Phone:

703-761-1270

Fax:

703-748-0183

Key Executives for MERSCORP, Inc.

Chief Executive Officer, President and Director
Age: 54
Chief Financial Officer, Vice President, Controller and Treasurer
Chief Legal & Legislative Officer, Senior Vice President and Corporate Secretary
Senior Vice President and Chief Risk officer
Senior Vice President of Member Services
Compensation as of Fiscal Year 2015.

MERSCORP, Inc. Key Developments

Montana Supreme Court Affirms Ruling in Mortgage Electronic Registration Systems, Inc. and MERSCORP Holdings' Favor

MERSCORP Holdings, Inc. announced that the Supreme Court of Montana, in a majority opinion last week, held that a recorded deed of trust and chain of assignments, including assignments by MERS, can establish a secured interest in real property. The Supreme Court in Goodwin v. MERS, MERSCORP, et. al affirmed a ruling of the Eleventh Judicial District Court in Flathead County, noting that “the District Court’s interpretation and application of the law were correct.” The District Court ruled earlier this year in favor of Mortgage Electronic Registration Systems, Inc. (MERS), MERSCORP Holdings, Inc., and others, in a quiet title action filed by the plaintiff after he defaulted on his mortgage payments and received notice of a trustee’s sale. In his complaint, the plaintiff alleged violations of various state and federal mortgage laws regarding notice and assignment of mortgages. MERS was the named beneficiary as nominee for the lender and the lender’s successors and assigns on the plaintiff’s deed of trust. The District Court granted the defendants’ (MERS and others) motion for summary judgment, holding that the plaintiff (Goodwin) had presented no admissible evidence demonstrating genuine issues of material fact as to the Defendants’ interest in the Property.

MERSCORP Holdings, Inc. Announces Three Federal Courts Find in Favor of Mortgage Electronic Registration Systems, Inc

MERSCORP Holdings, Inc. announced that three separate federal courts ruled in Mortgage Electronic Registration Systems, Inc.’s (MERS) favor, dismissing borrowers’ suits to quiet title and affirming MERS’ authority to assign the mortgage lien. In Bradley v. Branch Banking Trust (BB&T) (Georgia), Garza v. Flagstar Bank, FSB (Texas), and McCarty v. Bank of New York (New York), the plaintiffs sued MERS and other financial companies to avoid foreclosure based on claims that MERS could not hold or assign a security instrument. In addition, the plaintiffs in Bradley and Garza alleged that by using MERS in the loan transaction, the note and security instrument were split, making the mortgage or deed unenforceable. In Bradley, Magistrate Judge Russell G. Vineyard from the U.S. District Court for the Northern District of Georgia found that because 'it is undisputed that executed a security deed that conveyed the property to MERS,' the borrower could not claim that he held full title to the property, and therefore, dismissed the quiet title claim. In McCarty, the U.S. District Judge Analisa Torres from the Southern District of New York similarly dismissed quiet title claims against MERS and its co-defendants while also upholding the validity of the deed of trust assignment executed by MERS. In her opinion, Judge Torres held, 'Plaintiff voluntarily executed the Deed of Trust to obtain the loan. And even construing the amended complaint liberally, Plaintiff has not alleged a proper basis for a discharge of that loan'. In Garza, Judge David Hittner from the U.S. District for the Southern District of Texas Court upheld the validity of the assignments of the deed of trust and dismissed the borrowers’ claim to quiet title, noting that the borrowers fail to make any allegations to support their assertion that Defendants’ claim to the property is invalid or unenforceable. The quiet title claims in all three cases were dismissed with prejudice.

Pennsylvania Court of Common Pleas Grants Mortgage Electronic Registration Systems Motion for Summary Judgment

MERSCORP Holdings, Inc. announced that the Court of Common Pleas of Lackawanna County, Pennsylvania dismissed a quiet title lawsuit affirming the validity of the mortgage with Mortgage Electronic Registration Systems, Inc. (MERS) as the mortgagee and recognizing MERS’ standing to defend its interest in the mortgage. In Marjer, Inc. v. Poplawski, the plaintiff purchased property that was subject to a prior, unsatisfied mortgage with MERS as the mortgagee by the prior owner and immediately filed a quiet title action alleging the deed to the property divested any claims MERS had in the property. Additionally, the Court held that the mortgage expressly names MERS the mortgagee of record with the full legal authority to act as mortgagee. The opinion continues, This Court believes this includes the ability to defend against a quiet title action that is seeking to extinguish the mortgage for which MERS is the nominee. Additionally, the Court held that the mortgage expressly names MERS the mortgagee of record with the full legal authority to act as mortgagee. It continued by citing recent cases that held that MERS has the authority to assign a mortgage.

Similar Private Companies By Industry

Company Name Region
Vantage Point, Inc. United States
Jobcase Inc. United States
Vision Integration Partners LLC United States
Dispatch, LLC United States
Pierce-Eislen, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact MERSCORP, Inc., please visit www.mersinc.org. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.