DPS To Offer MERS Docs
Document Processing Systems Inc., Novi, Mich., is the latest doc prep company to offer services to MERS 1-2-3 users.
MERS 1-2-3 allows members and nonmembers alike to generate complete closing packages and to create valid assignments to MERS for loans that do not designate MERS as the "original mortgagee." Developed in 2002, it was created to help MERS members more rapidly convert correspondents and brokers into MERS-ready trading partners.
MERS 1-2-3 users can now select DPS as their document provider of choice to generate "MERS as Original Mortgagee" documents and valid assignments to MERS.
Loans registered with MERS are inoculated against future assignments because MERS remains the mortgagee of record no matter how often servicing is traded between MERS members.
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