Contact:

Cecil Stack
703-761-1270
cecils@mersinc.org

McLEAN, VA—MERS officials announced at the company’s annual meeting of shareholders that MERS made its first profit in March. April 29 marks the fourth anniversary of the first loans registered on the MERS® System. Today, MERS has more than 4 million loans registered and registrations are averaging 9,500 loans per day, a 25 percent increase in three months. So far this year about one company per day has gone live and begun registering loans.

“This proves that MERS is a success and that the real estate finance industry has accepted MERS as the industry standard,” said R.K. Arnold, MERS President and CEO. He added that the company’s financial outlook is excellent.

The real estate finance industry created MERS to streamline the mortgage process. MERS benefits include the elimination of paper assignments by acting as the mortgagee of record in the county land records for the lender and servicer. Ownership interests are then tracked electronically on the MERS® System, a national loan registry. Fannie Mae, Freddie Mac, VA, FHA, Ginnie Mae, the Federal Home Loan Bank MPF® Program, state housing agencies, and all major Wall Street rating agencies have approved MERS.