{"id":57612,"date":"2012-01-25T10:38:07","date_gmt":"2012-01-25T10:38:07","guid":{"rendered":"http:\/\/therealestatemango.com\/2012\/01\/25\/what-is-mers-and-how-can-it-help-the-housing-market\/"},"modified":"2019-04-23T20:51:05","modified_gmt":"2019-04-23T20:51:05","slug":"what-is-mers-and-how-can-it-help-the-housing-market","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/what-is-mers-and-how-can-it-help-the-housing-market\/","title":{"rendered":"WHAT IS MERS AND HOW CAN IT HELP THE HOUSING MARKET?"},"content":{"rendered":"
\"\"<\/a>

Mortgages<\/p><\/div>\n

First, let me define MERS….Mers <\/strong>is an innovative process that simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.\u00a0 Created by the real estate finance industry, MERS eliminates the need to prepare and record assignments when trading residential and commercial mortgage loans.<\/p>\n

NOW THAT WE HAVE DEFINED IT…LET’S UNDERSTAND THE UNDERLYING CONDITION THAT LED TO THIS PROCESS.<\/strong><\/p>\n

The mortgages that are written to this day, are sold to service providers (these are the banks that collect the payments) who ultimately sell them to other service providers.\u00a0 All this in the effort to make money on these sales.\u00a0 Finally, these loans are sold to Wall Street firms that package them and sell them as investments.<\/p>\n

When homes sales began declining and some were worth half of the original price, many banks could not even locate the original loan in order to make modifications or to prove how much was owed in back payments.\u00a0 Paper, paper, everwhere and not a piece that was the right one.<\/p>\n

MERS COMES IN….THIS IS AN ELECTRONIC\u00a0 SYSTEM OF TRACKING THE ORIGINAL MORTGAGE NO MATTER WHERE IT WINDS UP.\u00a0 <\/strong><\/p>\n

Until this system becomes the only way of doing mortgages, we will not get out of the lengthy foreclosures still waiting to be finalized.\u00a0 Once these mortgages are dealt with and either saved or completely foreclosed and back on the market for sale, the housing slump will hang around for a long time.<\/strong><\/p>\n

The U.S. government would have to make this a mandatory way of doing business for all l banks and mortgage lenders for this to be effective.\u00a0 Let’s hope this happens!<\/p>\n

Just thought you should know.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

First, let me define MERS….Mers is an innovative process that simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.\u00a0 Created by the real estate finance industry, MERS eliminates the need to prepare and record assignments when trading residential and commercial mortgage loans. NOW THAT WE HAVE DEFINED IT…LET’S UNDERSTAND THE UNDERLYING<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nWHAT IS MERS AND HOW CAN IT HELP THE HOUSING MARKET? - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/what-is-mers-and-how-can-it-help-the-housing-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WHAT IS MERS AND HOW CAN IT HELP THE HOUSING MARKET? - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"First, let me define MERS….Mers is an innovative process that simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.\u00a0 Created by the real estate finance industry, MERS eliminates the need to prepare and record assignments when trading residential and commercial mortgage loans. 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