[Freedom4US]

Everytime a property changes hands, here in Iowa at least, it is recorded at the county level. It soumds to this layman that MERS was set up to liquefy, if you will, a very illiquid asset - real estate.

A lot of folks seem to think this charlie foxtrot is going to result in a free house. It might in some cases, but it will become unsaleable in the future.
Since much of the nonsense in recent decades is by design rather than incompetence, what’s the deal here?

[PeterPrinciple]

A lot of folks seem to think this charlie foxtrot is going to result in a free house. It might in some cases, but it will become unsaleable in the future

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I was in Uganda, which has the English system of titling. The 20 years of Idi Amin were a wreck to the system and a gap exists. They just learned to live with the gap in titling.

[catnipman]

“Since much of the nonsense in recent decades is by design rather than incompetence, what’s the deal here?”

Read “The Big Short” by Michael Lewis, and you’ll have a better idea.