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MERS for CRE Coming Soon.(Mortgage Electronic Registry System for commercial real estate)(Brief Article)
It is anticipated that the Mortgage Electronic Registry System for the commercial sector will start to register loans later this summer.
The system will benefit users by eliminating the need to do assignments, thereby reducing costs, Deborah Schiavo noted, during a panel session on the future of technology at the MBA's recent Commercial Real Estate Finance/Multifamily Asset Administration & Technology Conference here.
Six firms - Bear Stearns, Bank of America, John Hancock, Wells Fargo, GE Capital and GMACCM - have put up money on the endeavor so far. The hope is that "a lot ...
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