MERS System

ALTA membership gives you access to the MERS System, a national electronic database that tracks changes in mortgage servicing rights and beneficial ownership interests in loans secured by residential real estate. Two primary benefits of having access to the MERS System include:

  • Saves money
    • Eliminates need for certain paper assignments, thus reducing costs associated with transferring mortgage rights
  • Reduces issues related to breaks of chain in the title
    • At closing, the borrower and lender agree to name MERS as mortgagee or beneficiary on the mortgage or deed of trust
    • The lender then records the mortgage in the county land records and registers the information about the loan on MERS System
    • MERS remains mortgagee in the land records as servicing rights and notes are bought and sold. No interests are transferred on the system; they are only tracked