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The lawsuit accuses banks of creating a registry service that fails to accurately track mortgage ownership and lacks any legal authority to initiate foreclosures.
The Delaware attorney general?s office sued Merscorp Inc., which runs a national mortgage registry used by banks, saying its practices are deceptive and hide information from borrowers.

Mortgage Lender Fined, Will Be Put On Registry

Posted by mortgage 389 days ago (Editorial)
Mortgage Lender Fined, Will Be Put On Registry Get Business Mobile Text Alerts : Text BIZ To 37798 A New Jersey-based mortgage lender that failed to disclose it was the target of a civil lawsuit charging fraud when it applied for a license in Connecticut has been fined $50,000 by the state Department of Banking.

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