I like the sideline commentary from the defense attorneys. I think the one with the headset missed his calling in the NFL or NBA. Seriously though, I hope the Michigan BFS Committee seeks testimony from other industry sectors. Hultman's testimony seems to indicate that MERS has universal backing in the real estate industry (i.e. "task force" made up of all segments of the industry). He even listed ALTA as the first member of the task force. Hultman's answer to the question about whether the MERS process causes any problems in getting title insurance or any issues in property transfer was disingenuous, at best. His answer was "historically, no." Then when pressed, he stated "millions of title insurance policies have been issued" with MERS as the insured. Come on, the MERS process in the foreclosure arena has caused all kinds of issues with title policies and transfers both in Michigan and other states (See NY-Agard and OR-Hooker.) Notwithstanding the outcome of these hearings, I think the legislatures need to know the straightforward truth. I hope other title and abstracting organizations will get the opportunity to provide it.
to post a reply:
login - or -
register