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Stop Mers in its tracks

Mortgage Electronic Registration Systems,or MERS with the financial services industry has launched an aggressive campaign on Capitol Hill to bolster the legality of the way it has turned mortgages into securities and traded them across the globe in recent years.They have held for key members of Congress an event last week that drew more than 60 people. They are selling MERS to key members of Congress which will support their objectives. Congress needs to be petitioned not to increase the power of MERE. This company is part of the fraud that is causing the foreclosure crisis.

The Banking and loan Servising industry is seeking legislation by lobbying congress that would effectively affirm MERS's legality and block any bill that would call into question what MERS does. MERS has spent over $1 million in lobbying since fall 2008, when lower courts around the country began to rule against it.  MERS name was not well known until the recent uproar over foreclosures revealed broad problems in mortgage paperwork. This company must not increase its power. Our elected officials must be contacted to stop this company.

MERS could with one quick piece of legislation make all lawsuits related to MERS across the country null and void . We need to petition our lawmakers to start a  new federal registry, which will effectively kill MERS's business and force the industry to submit to greater oversight.

Jane Cole started this petition with a single signature, and now has 35 supporters. Start a petition today to change something you care about.