New Data Integrity Checks: U.S. Bank MERS Warnings for Maine Closings
In Bulletin 2015-004, U.S. Bank states they will no longer accept MERS mortgages for properties located in Maine for loans closing on or after April 1, 2015. This is due to the State Supreme Court of Maine ruling that loans with MERS as the original mortgagee on a Fannie Mae or Freddie Mac Uniform Security Instrument do not transfer the rights to foreclose:
“For all FNMA,…