The Complications of Collecting on Promissory Notes when MERS is Around
By David P. Weber
In this era of “robo-signers,” asset-backed securities and unprecedented foreclosures, the mechanics of collecting on a promissory note accompanying a mortgage or deed of trust are often forgotten or not followed for a number of reasons such as: the sheer volume of paperwork accompanying every such file; the fact that many of these promissory notes are indorsed to third parties or are no longer in the possession of the servicer or the interested financial party; or because the notes . . .
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