Research On The Mortgage Recording And Assignment Recording In The U.S. MERS^? System

As the market for mortgage-backed securities grew,a large number of securitization loans and the assignments need to be recorded in the County Recording Office.Mortgage lenders and investment banks sought to make the transfer of residential mortgages cheaper and easier,and so with the support of estate industry leaders,MERS CORP was born.A lender that has become a member of MERS can register and track the transfer of mortgage electronically in its private database.At the time MERS was created,it played an important role in the management of mortgage-backed securities market.However,the lack of legal and public policy foundations and the participate in initiating foreclosure as the plaintiff,it caused heavy resistance to the securities market and judicial practice.Therefore,this essay adopts comparative analysis and literature analysis,starting with the origination and operation of MERS system,studies the assignments and foreclosure proceedings when MERS participated in,analyzes the typical cases and legal issues arising from MERS and the impact on current law of the U.S.,and compares with mortgage recoding system in China,finds a breakthrough for the reform of mortgage registration system in our country.