Mortgage Electronic Registration System definition

Mortgage Electronic Registration System or “MERS” shall mean the process created by the mortgage banking industry that tracks mortgage ownership and servicing, is used by the real estate finance industry for residential and commercial mortgage loan trading, and that simplifies the mortgage process by using electronic commerce.
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Examples of Mortgage Electronic Registration System in a sentence

  • If any Mortgage has been recorded in the name of Mortgage Electronic Registration System, Inc.

  • Peterson, Foreclosure, Subprime Mortgage Lending, and the Mortgage Electronic Registration System, 78 U.

  • CHFA is not a member of the Mortgage Electronic Registration System (MERS) and assignment of CHFA mortgage loans in MERS is strictly prohibited.

  • Within sixty (60) days of this Order, the Bank shall submit to the Deputy Comptroller and the Examiner-in-Charge an acceptable plan to ensure appropriate controls and oversight of the Bank’s activities with respect to the Mortgage Electronic Registration System (“MERS”) and compliance with MERSCORP’s membership rules, terms, and conditions (“MERS Requirements”) (“MERS Plan”).

  • Seller shall utilize the Mortgage Electronic Registration System for all assignments from Seller to Purchaser.

  • To the extent the Owner requests the Servicer to register or transfer a Non-Agency Mortgage Loan with Mortgage Electronic Registration System, Inc., the Owner shall promptly transfer or cause to be transferred to Servicer the required mortgage loan information.

  • Within sixty (60) days of this Order, the Association shall submit to the Regional Director an acceptable plan to ensure appropriate controls and oversight of foreclosure activities within respect to the Mortgage Electronic Registration System (MERS) and compliance with MERSCORP’s membership rules, terms, and conditions (MERS Requirements) (MERS Plan).

  • If the Security Instrument has MERS as the nominee for the lender and as the named beneficiary, the appropriate information on the Mortgage Electronic Registration System (MERS) should be updated.

  • The Servicer and its Foreclosure law firm must determine the proper name in which to foreclose in each jurisdiction.The Servicer must ensure its law firm obtains title to any foreclosed property vested in the MPF Bank’s name in a manner that will not result in the imposition of a transfer tax.On Mortgage Electronic Registration System (MERS) loans, MERS will show as the beneficiary or mortgagee of record.

  • To the extent the Owner requests the Servicer to register or transfer a Mortgage Loan with Mortgage Electronic Registration System, Inc., the Owner shall transfer or cause to be transferred to Servicer the required mortgage loan information within five (5) Business Days of the Servicing Transfer Date.

Related to Mortgage Electronic Registration System

  • Electronic Record and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time.