AG Settlement Opposition – MA Throws the First Punch

The questions to consider after reading this will be – (1) do you really need more time to consider your position on MERS?  And, (2) will any issues that entail MERS ultimately circle back to its creator – the cartel of members?  If so, why bother to settle?

PUNCH NO. 1:

Massachusetts AG Coakley: I Won’t Sign Away Liability Over MERS in Foreclosure Fraud Settlement

By: David Dayen Monday July 25, 2011 2:19 pm

Attorney General Martha CoakleyMassachusetts has joined several other states in saying they would oppose a foreclosure fraud settlement if it includes certain liability releases, particularly those relating to MERS. Massachusetts Attorney General Martha Coakley (yes, that Martha Coakley) wants to retain the ability to pursue lawsuits against the banks and their subsidiaries over state consumer protection violations and fraud upon state courts.

“Massachusetts will not sign on to any global agreement with the banks if it includes a comprehensive liability release regarding securitization and the MERS conduct,” Coakley wrote to the Norfolk County register of deeds in Dedham, Massachusetts. “These investigations must continue.” The registry keeps records of real estate in the county […] Continue reading