LaRue County Fiscal Court has joined over 18 other Kentucky counties in a class action lawsuit against a Delaware mortgage bundling company.
Magistrates meeting at the courthouse in Hodgenville June 12 took the action against Mortgage Electronic Registration System. The company’s website described MERS as “an innovative process that simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.”
Tommy Turner, LaRue County judge-executive, said tracking of titles is the major problem with MERS.
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