Mortgage Electronic Registration Systems

Another Way Banks Make Everyone Pay: The MERS Mess

The Mortgage Electronic Registration System was created by banks to save themselves a boatload in fees by keeping mortgage transfers off the books of local governments. Now, a New York judge says the whole system violates state law, and banks holding MERS mortgages there can't foreclose. So where will this chaotic mess go from here?

Financial Meltdown Accountability: Bring On the Class Actions!

The Financial Crisis Inquiry Commission's report concludes that ineffective regulators and big banks were the primary causes of the financial meltdown. Next stop: Government and class action lawsuits to recoup some of what we all lost, and (please please please) criminal charges against the worst offenders too.