www.oregonlive.com -- Since October, federal judges in six separate Oregon cases have halted foreclosures involving MERS, saying its participation caused lenders to violate the state's recording law. At least one federal judge has ruled in favor of MERS, industry lobbyists said. Today, the mortgage and banking industry turned to the Oregon Legislature for help. The House Judiciary Committee entertained a last-minute amendment to an affordable housing bill that would rid the recording requirements holding up MERS foreclosures. Lobbyists for banks, credit unions and title companies said the amendments were needed to lift a cloud over thousands of Oregon homes. "It's created a significant issue for the title industry, certainly, and, among others, the people who own these homes," said Alan Brickley, an attorney for First American Title Insurance Co. in Portland. The Northwest Credit Union Association and Oregon Financial Services Association also testified in favor of the amendment.

Click here to read full article...

Read more:, , What You Should Know

Got something to say to us? Then send us a letter.

Want us to stick around? Donate to The eXiled.

Twitter twerps can follow us at twitter.com/exiledonline