What Is MERS and What Role Does It Have in the Foreclosure Mess?

10-13-2010 • Washingtonsblog.com/

MERS is a shell corporation with no employees, but thousands of officers. As the treasurer and secretary of MERS admitted in a deposition: Q Does MERS have any salaried employees? A No. Q Does MERS have any employees? A Did they ever have any? I couldn’t hear you. Q Does MERS have any employees currently? A No. Q In the last five years has MERS had any employees? A No. Q To whom do the officers of MERS report? A The Board of Directors. *** A That’s correct. Q And in what capacity would they report to you? A As a corporate officer. I’m the secretary. Q As a corporate officer of what? Of MERS. Q So you are the secretary of MERS, but are not an employee of MERS? A That’s correct. *** How many assistant secretaries have you appointed pursuant to the April 9, 1998 resolution; how many assistant secretaries of MERS have you appointed? A I don’t know that number. Q Approximately? A I wouldn’t even begin to be able to tell you right now. Q Is it in the thousands? A Yes. Q Have you been doing this all around the country in every state in the country? A Yes. Q And all these officers I understand are unpaid officers of MERS? A Yes. Q And there’s no live person who is an employee of MERS that they report to, is that correct, who is an employee? [Objection] A There are no employees of MERS.