[Age of Reason]

BTW, record bonuses for the financial industry this year.

What nerve.

What insanity.

[bruinbirdman]

"MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. "

It appears that MERS is an electronic county courthouse for the entire country, supposedly. Sans filing fee.

Can the county courthouse foreclose on a delinquent borrower? Hardly. It is just a data center.

I read the

TWO FACES: DEMYSTIFYING THE MORTGAGE ELECTRONIC REGISTRATION SYSTEM’S LAND TITLE THEORY (pdf) One click download, fascinating. Thanx for the source.

yitbos

[AndyJackson]

It is simply their just reward for the complexity and hardwork involved in dealing with the intricacies of $700B in TARP money and a record number of federal reserve ledger entries required to ensure that the banking system did not collapse.