Multnomah County in line for $9 million over fraud suit against Mortgage Electronic Registration Systems, Inc. (MERS)
Portland Tribune-
Multnomah County has negotated a tentative $9 million settlement of a lawsuit alleging fraud against a national mortgage registry company.
Mortgage Electronic Registration Systems, Inc. was used by banks to bypass public recording requirements and fees, and has been linked to numerous foreclosures nationally. Other lawsuits against MERS have been filed around the country, with mixed results.
The settlement, released under Oregon Public Records Law, is scheduled to go before the board of county commissioners on Thursday.
SETTLEMENT BELOW
