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WilCo Looking Into MERS Suit
The Williamson County Attorney's Office says they are looking at joining a lawsuit or filing their own against the Mortgage Electronic Recording System, known as MERS.
This comes after an audit revealed the county is missing more than 60,000 mortgage assignment notes and almost half of the existing files are believed to be fraudulent. The County Clerk fears this could lead to unexpected foreclosures.
Dallas County is in litigation right now. Assistant County Attorney Hank Prejean says they have been following that suit since 2011.
Prejean says they will be seeking close to $1 million in lost recording fees and ask that MERS file missing and future mortgage documents with the county.
"As far as resources and expenditures, we would join of the possibility of engaging outside council," said Prejean.
MERS denies any wrongdoing.
By Christie Post