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What is MERS?

April 26, 2017mers

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What is MERS?

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MERS, even for many seasoned real estate professionals, is the most important entity youve never heard of. In the mid-1990s, mortgage bankers created MERS to facilitate the complex mortgage securitization system where hundreds of thousands of mortgage loans were (and still are) packaged and bundled as securities for sale on Wall Street. Each mortgage entered into the MERS system has a unique 18 digit Mortgage Identification Number (MIN) used to track a mortgage loan throughout its life, from origination to securitization to pay-off or foreclosure. The MERS system was vital to the proliferation of the $10 trillion U.S. residential securitization mortgage market.