October 16, 2017 8:58 PM ET

Internet Software and Services

Company Overview of MERSCORP Holdings, Inc.

Company Overview

MERSCORP Holdings, Inc. provides eCommerce mortgage solutions. The company owns and operates Mortgage Electronic Registration Systems (MERS), a national electronic registry system that tracks the changes in servicing rights and beneficial ownership interests in residential mortgage loans; and MERS eRegistry, a system of record that identifies the owner (controller) and custodian (location) for registered eNotes providing liquidity, transferability, and security for lenders. Its MERS system streamlines the mortgage process by using electronic commerce for mortgage originators, servicers, warehouse lenders, wholesale lenders, retail lenders, document custodians, settlement agents, title compan...

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 Holdings, Inc.

Chief Executive Officer, President and Director
Age: 56
Chief Financial Officer, Senior Vice President, Controller and Treasurer
Chief Operating Officer and Senior Vice President
Chief Legal & Legislative Officer, Senior Vice President and Corporate Secretary
Chief Risk officer and Senior Vice President
Compensation as of Fiscal Year 2017.

MERSCORP Holdings, Inc. Key Developments

Commonwealth of Massachusetts Appeals Court, Affirms the Dismissal of Borrower’s Wrongful Foreclosure Lawsuit Against MERS's Interest

MERSCORP Holdings, Inc. announced that the Commonwealth of Massachusetts Appeals Court, in affirming the dismissal of a borrower’s wrongful foreclosure lawsuit against a loan servicer, upheld MERS’ interest as the mortgagee and the right to assign the interest. In Hall v. Nationstar Mortgage, Inc., the plaintiffs claimed that MERS lacked the power of sale because it was not the 'mortgagee.' Further, the plaintiff argued that MERS did not have the right to legally assign the mortgage. The order of the Massachusetts Appeals Court stated, 'The contention that MERS was not the mortgagee is belied by the language of the mortgage itself.' The court continued, 'Similarly, Hall’s complaint advanced no factual basis for her claim that MERS lacked the power of sale, which was explicitly conferred on it by the terms of the mortgage: ‘MERS (as nominee for Lender and Lender’s successors and assigns) has the right: to exercise any or all of the [the interests granted by the mortgage], including, but not limited to, the right to foreclosure and sell the property'.

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.

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