Dallas Revises MERS Filing-Fee Suit to Add All Texas Counties
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Dallas County, Texas, is seeking to represent all counties in the state in its lawsuit against Bank of America Corp. and Mortgage Electronic Registration Systems Inc. over unpaid filing fees.
Dallas filed the complaint in September, alleging that Merscorp Inc.’s MERS, which runs an electronic registry of mortgages, cheated the county out of uncollected filing fees. MERS tracks servicing rights and ownership interests in mortgage loans on its registry, allowing banks to buy and sell loans without recording transfers with counties.