
Get the free Sample Lien Release - mersinc.org
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DISCLAIMER: This sample document is only intended as guidance as to certain requirements of the MERS System Procedures Manual (Procedures). It does not necessarily address all requirements set out
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People Also Ask about
What is the purpose of MERS?
MERS, the Mortgage Electronic Registration System, tracks the owners and servicers of mortgage loans in the United States. Homeowners can visit MERS's website to look up the owner or servicer of their mortgages.
How do you release MERS?
The loan servicer will send a lien release to the county recorder's office. The release should contain the MIN and the telephone number to access the MERS VRU, which is the number the general public may call to obtain information about the MERS servicer. The number for the VRU is 1-888-679-MERS (679-6377).
How do I contact mortgage Electronic Registration Systems Inc?
What is MERS? MERS serves as a mortgagee of record. Read on to learn more. Or call 1-888-679-6377.
What is a MERS assignment?
This assignment is a document that shows that the mortgage has been transferred to a new owner. This can be a labor-intensive process, requiring the owners of a loan to create an assignment with the county recorder every time a loan is sold.
What is a MERS number?
Originated by MERSCORP Holdings, Inc.'s MERS system, the mortgage identification number (MIN) is a unique 18-digit number used to track a mortgage loan throughout its life, from origination to securitization to payoff or foreclosure.
What is a MERS member?
MERS is the lienholder of record and holds legal title to the lien granted by the borrower in the Mortgage (“MERS Mortgage”) as the nominee (agent) of the lender and the lender's successors and assigns who are members of the MERS® System. MERS is not the lender, and MERS does not service your loan.
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What is sample lien release?
A sample lien release is a legal document that shows a creditor has released their claim on a property.
Who is required to file sample lien release?
The creditor or lienholder is required to file a sample lien release after a loan has been fully paid off.
How to fill out sample lien release?
To fill out a sample lien release, the creditor must include the property description, the amount of the loan that has been paid off, and the date of the release.
What is the purpose of sample lien release?
The purpose of a sample lien release is to legally release the creditor's claim on a property after the loan has been fully satisfied.
What information must be reported on sample lien release?
The sample lien release must include the property description, the name of the debtor, the amount of the loan paid off, and the date of the release.
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