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Tag Archives: mers

Cease-and-desist orders issued against 8 mortgage bankers

The Office of the Comptroller of the Currency issued cease-and-desist orders Wednesday against eight national mortgage bankers, including Bank of America, PNC and Wells Fargo, for “unsafe and unsound” practices dealing with residential mortgage foreclosures. The banks agreed to the ...

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Legislating limits on Mortgage Electronic Registration System

The lending industry launched the Mortgage Electronic Registration System in 1997 to be a centralized database to streamline the transfer of home loans among investors while making it easier for borrowers to keep track of who owns their loans. But ...

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