According to various provisions in the Mortgage Electronic Registration System’s (MERS) “Quality Assurance Procedures Manual” (2012), MERS requires their MIN to be disclosed “in the proper location on the Note, MOM [MERS as Original Mortgagee] security instrument, or assignment to MERS,” as well as other recordable documents.
Over the years, DocuTech has been disclosing the MIN on all recordable documents in which MERS is named as the beneficiary (except for assignments to MERS, in which case the MIN is always disclosed), in the loan information table that appears near the top, right hand portion of such documents. In addition, with few exceptions, DocuTech has been including the MIN in the information table on nearly all other documents.
Upon review and further consideration of this policy, while we do not believe disclosure of the MIN in documents in which it is not required to be disclosed constitutes a compliance problem, inclusion is not necessary and we would prefer to only include information in our documents which is necessary. In addition, several clients have expressed a preference to keep the MIN off of documents, where possible.
Pursuant to the above reasons, we are hereby announcing a change in our policy and we will now only disclose the MIN in the documents in which it is required to be disclosed, pursuant to MERS’ requirements and any applicable law or regulation. All notes and recordable documents will continue to disclose the MIN where appropriate, as required by MERS.
Removal of the MIN will be done to documents when they are edited for other changes, so this change will be a slow, gradual process. We will begin implementing this change on June 28, 2013. Should your company have any concerns or issues about this change, please contact your Account Manager or Client Support (1.800.497.3584) immediately.
June 21, 2013
TW 72187