Mortgage Electronic Registration System, Inc. (commonly referred to as MERS) has been the subject of several class action lawsuits throughout the country. MERS operates an electronic registry designed to track and record mortgage assignments in the county recorder offices in Ohio’s 88 counties.
The most recent MERS litigation involves a class action complaint filed by Plaintiff Geauga County, on behalf of itself and all other Ohio counties, alleging that MERS violated Ohio law by failing to properly record mortgage assignments, thus failing to pay county recording fees to Ohio county recording offices. The Plaintiff further alleges that MERS’ failure to properly record mortgage assignments in a timely fashion created “gaps” in the mortgage recordation process. The Plaintiffs also named as defendants financial institutions that contract with MERS.
In response to the class action filing, MERS simply stated that its registration system is legal and properly administered.
We will be monitoring this lawsuit as it progresses.
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