MNI | US NY AG Files Lawsuit Vs Big Banks Over Use Of MERS

WASHINGTON (MNI) - The New York State attorney general Friday, announced a
"major lawsuit" against Bank of America, J.P. Morgan Chase, and Wells Fargo
for submitting false and misleading court documents while acting as
certifying officers for Mortgage Electronic Registration Systems.

New York Attorney General Eric Schneiderman asserted that the banks' use of
MERS resulted in fraudulent foreclosures and that MERS has "effectively
eliminated homeowners' and the public's ability to track property transfers
through the traditional public records system."


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Source:
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