CONTACT:

Karmela Lejarde
Phone: 703-761-1274
Email: KarmelaL@mersinc.org

Vienna, VA—MERS would like to announce the addition of International Document Services (IDS) of Salt Lake City, UT, to its family of document providers offering services to MERS® 1-2-3 users. Correspondents and brokers, in the process of using MERS® 1-2-3, can now select IDS as their document provider of choice to generate "MERS as Original Mortgagee" (MOM) documents and valid assignments to MERS.

MERS® 1-2-3 allows members and non-members 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.

“The addition of IDS as a MERS document provider will be a great benefit to MERS® 1-2-3 users, giving them more options in their selection process,” said Dan McLaughlin, Executive Vice President, MERS Product Division. “MERS is very happy to work with IDS in providing this service to both IDS and MERS customers.”

“As part of the new partnership, we will be offering a free month of unlimited service and use of the application to all new IDS customers,” said Mark Mackey, IDS Director of Sales. “MERS® 1-2-3, coupled with the IDS application, will help clients improve their efficiency and increase their flexibility.”

About MERS
MERS is an electronic loan registry created by the real estate finance industry to eliminate assignments when trading mortgage loans. Borrowers name MERS as mortgagee and nominee for the lender on deeds of trust and mortgages that are recorded in the county land records. Lenders then register the loans on the MERS® System and electronically track changes in servicing and beneficial ownership rights over the life of the loan.

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. Fannie Mae, Freddie Mac, VA, FHA, Ginnie Mae, the Federal Home Loan Bank MPF®, California and New York housing authorities, and all major Wall Street rating agencies have approved MERS.

About IDS
IDS is a provider of loan documents for mortgage brokers, investors, banks, title companies, closing attorneys, escrow companies, lenders, credit unions, and other financial institutions through customized software.