Seventh Circuit Court of Appeals Dismisses Illinois Recording Fee Case Against MERS
February 13, 2014
Mason County alleged that MERSCORP and MERS were unjustly enriched because the entities did not pay recording fees when promissory notes were transferred. In dismissing the lawsuit, judge Richard A. Posner wrote that MERSCORP and the banking industry is not required to "adopt a system of mortgage protection that generates revenues for a state or local government."
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