MERS owner to acquire Simplifile as mortgage eNote usage grows
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ICE will pay $335 million to acquire Simplifile with the deal expected to close in the third quarter. Simplifile will continue to operate under that name and maintain its headquarters in Provo, Utah; it has 200 employees. ICE acquired full control of MERS last October. The holding company is also the owner of the New York Stock Exchange.
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MERSCORP Holdings is the owner and operator of the MERS eRegistry, the national mortgage registry and legal system of record for identifying the controller (holder) and location (custodian) of the authoritative copy of registered eNotes. Interest in the production of eNotes continues to grow as consumers and lenders recognize the value of.
as Trustee for the BNC Mortgage Loan Trust 2006-1, by Assignment securing a Note in the original principal amount of $115,000.00, the holder thereof pursuant to said Deed and Note thereby secured has.
MERS says it has the legal right to foreclose when the owner of the loan chooses to make MERS the holder of the promissory note and gives it the right to enforce the mortgage if it goes into default. But lawyers representing homeowners disagree, saying MERS doesn’t have the legal right to foreclose because it doesn’t actually own the mortgage loan.
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· Arm yourself with the facts and make them prove their ownership in court. If they can’t prove they are the mortgage owner by producing absolute proof of the legally obtained original Note signed by you in blue ink, don’t pay them a penny and don’t let them take your property.
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