Credit Unions Should Not be Member of MERS
Mortgage Electronic Registration Systems, Inc. aka MERS aka MERSCORP, Inc. is a primary reason and direct source of the financial collapse. MERS was created as a "straw man" entity allegedly for the purpose of electronic title and transaction recordation in the mortgage industry. Its parent company, MERSCORP, Inc., is a membership operation with over 4000 members - primarily banks. It appears that MERS' fraudulent assignments to securitized Trusts well after the Trusts had closed has caused the Assignment of Mortgages and the following transactions to be void. It has apparently caused the REMIC tax shelters for the investors to have failed and left millions of mortgages in limbo. To be in bed with MERS or even remotely associated is the same as banking with Wall Street.
On the MERSCORP, Inc. website I found a new member: Arizona Central Credit Union, Pheonix, AZ
ACCU members - demand that your credit union withdraw from MERS - or withdraw your money! And the rest of us should check the MERSCORP, Inc. membership directory on its website: http://www.mersinc.org/#