GSEs Redoing 1,250 MERS Foreclosures in Michigan

Kilgore, Austin
August 2011
Mortgage Servicing News;Aug2011, Vol. 15 Issue 8, p1
The article reports on the potential of government-sponsored enterprises (GSE) Freddie Mac and Fannie Mae services to redo the foreclosure process on real estate owned (REO) properties in Michigan. The said remake is the result of the New York State appeals court ruling granting the eligibility of Mortgage Electronic Registration Systems Inc. (MERS) to use the nonjudicial foreclosure process. Also mentioned is the potential impact of the court's ruling on MERS-related foreclosures in the state.


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