Fannie Mae claims to have owned my mortgage a month BEFORE we bought the house!

[Samantha]

24. This article better references what I am talking about

“MERS members pay recording fees when the mortgage is recorded,” she continued. “When Mortgage Electronic Registration Systems, Inc. is the mortgagee (i.e., holds the legal title to the mortgage lien), there is no need for an assignment of the mortgage lien between its members because MERS remains the mortgagee holding legal title to the mortgage as the common agent for them. The need for an assignment is eliminated because title to the mortgage lien has been grounded in MERS.

"Nevertheless, O’Brien said as a result of MERS, “For the first time in my tenure … I can’t honestly look somebody in the eye that has a MERS mortgage and tell them who owns it, because they (MERS) have not followed the same rules as everyone else. (emphasis added)

"As states’ investigations into MERS’s practices continue, O’Brien hopes recorders and registers of deeds will “have a seat at the table.

“Anybody negotiating a settlement with these banks on these recording fees and the damage that they’ve done to the chain of title and such, registers of deeds should be in that room,” he said. “We’re the front-line men and women who deal with this every single day. We need to be in that room before this thing is shuffled off to Buffalo.”

http://www.naco.org/newsroom/countynews/Current%20Issue/5-9-11/Pages/Countyrecorders,registersofdeedsWe%E2%80%99relosingmoneytoMERS.aspx

If you read the entire article, it references mortgages bundled with securities. There were a number of articles that came out protesting the loss of revenue by states because transactions had not been sent to the Recorder of Deeds, some states call it Registrar of Deeds, in those bundles. Several states said they lost a lot of money during this period of time.

Sam