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MERS Standing: Its Impact on Title Insurance

By Marvin N. Bagwell

As long as most title underwriters ' the individuals, not the companies ' can remember, mortgages have always been assigned and the assignments were always recorded in the Office of the Clerk or City Register for the county in which the real property is located. With the advent of the Mortgage Registration System (MERS), this procedure changed. Instead of recording mortgage assignments in the local land records, lenders started recording assignments within the MERS computer system, thus eliminating the need for paper assignments with signatures and notaries, a public assignment chain and most of all, recording costs. Within a few years, MERS became a huge success with lenders. Currently, millions of mortgages and their assignments are in the MERS system. Title underwriters (the companies this time) went along and continued, albeit reluctantly, to insure transactions where the mortgage assignment chain was within MERS and not on the public record.

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