MERS is short for Mortgage Electronic Registration Systems. MERS is an electronic national database that tracks changes with registered mortgages. It serves as a common link between the lender and the homeowner. The system receives service of process, legal notices and other mail regarding the mortgaged property. It tracks servicing rights and ownership of mortgages. The MERS fee is typically considered to be one of the costs associated with the sale of the home.
What is MERS and why am I charged a MERS fee?Anjan Sarkar2020-10-23T11:41:12+00:00