Look at this page and imagine you are an assigment editor of a newspaper or an investigative journalist.
1. Chase? Really? The guys who just announced they weren’t using MERS but it turns out they stopped using them 2 years ago even though they were shareholders in this privately held entity? So what did they know and why wasn’t the SEC and their shareholders notified of a potential issue? Or perhaps they were and it was buried? I’m asking the question.
2. BOA – trying to work out title issues with American Land Title, a co shareholder of this private MERS entity. Really? Does that pass a smell test?
Not to mention how weird it is that the title companies own an interest in the entity that is part and parcel of clouding titles since MERS never properly recorded the notes it was registering in its database – a fact you would think the title companies would have been the first to glom onto. Bears thinking about further.