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10,000 E-Notes on MERS.

Mortgage Servicing News

| June 01, 2008 | COPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Vienna, VA -- MERS, the electronic registry for tracking ownership of mortgage loans and servicing rights, said it now had registered more than 10,000 electronic mortgage notes.

AmTrust Bank registered the ten thousandth e-note, MERS said.

Launched in 2004, the MERS eRegistry is a system of record that identifies to owner, or controller, and custodian, or location, for registered electronic mortgages. It was created to satisfy certain safe harbor requirements under the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act.

MERS said the eRegistry provides liquidity, transferability and security for lenders ...

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Source: HighBeam Research, 10,000 E-Notes on MERS.

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