Mortgage Registry Falls Under Attack Over Foreclosures

Law360, New York (December 15, 2011, 1:49 PM EST) -- States and counties seeking culprits for the U.S. home foreclosure crisis are homing in on a relatively obscure target in Mortgage Electronic Registration Systems Inc., a real estate recording paperwork saver that quietly helped fuel a bonanza of trading in securities based on mortgages.

In recent months, attorneys general in Massachusetts and Delaware joined a handful of county lawsuits alleging Merscorp Inc., which runs an electronic mortgage registry for some of the country's biggest banks, contributes to deceptive business practices. 

MERS, which was started in the mid-1990s by the mortgage banking industry, works...
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