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MERS Earns First Profit As Registrations Climb.(Mortgage Electronic Registration Systems Inc.)(Brief Article)
MERS, the industry-owned electronic registry for tracking ownership interests in mortgage loans and servicing rights, turned a profit for the first time during the month of March, executives of MERS announced at the company's annual meeting of shareholders.
MERS, formally Mortgage Electronic Registration Systems, Inc., does not release its financial statements, and a company spokesman said MERS would not comment on the amount of profit that was achieved.
MERS has registered more than four million loans, and registrations are averaging 9,500 loans per day, up 25% over the last three months.
So far this year, about one company per day has ...
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