Who is MERS, INC.

Hi, I just pulled a foreclosure list and came up with many listing having the Mortgagee as MERS, Inc. I have heard that this is not exactly a bank but some type of loan service company. I have also heard they are difficult to work with when trying to negotiste short sales etc. Does anyone have any info dealing with them or just explaining what this is?

Thanks in advance…


MERS is an innovative process that simplifies the way mortgage ownership and servicing rights are originated, sold and tracked. Created by the real estate finance industry, MERS eliminates the need to prepare and record assignments when trading residential and commercial mortgage loans.

Google around and you will find out what this it.