Illinois County Recorder Joins the Fight against MERS for Fraud and Deception Regarding Property Transfer Fees | MyFDL

Neon Notary (photo: Jeremy Brooks/flickr)

All I can say is it’s about damn time somebody in Illinois stepped up to the plate to hold banks accountable for their criminal activities! St. Clair County Recorder Mike Costello and State’s Attorney Brendan Kelly on May 21st filed a civil suit for fraud and deception against 22 banks for allegedly using MERS to “sidestep recording fees” and creating “a scheme to evade county fees and shield property transfer records from the public.” As State’s Attorney, Mr. Kelly works with and advises government at the county level, while the Attorney General provides the same services at the state level. Additionally:

We have been hearing from deputy recorders that kept having questions raised by individual home owners doing title searches,” he said. “With MERS it is very difficult to ascertain who owns what with any given piece of property.”

“It turns out that the replacement system is very inaccurate with very little oversight,” he said.

He said Illinois law is “clear and strong” regarding recording laws, but that MERS is in violation of various statutes including unjust enrichment, consumer fraud and deceptive trade practices.

Considering that St. Clair County was one of twelve Illinois counties contacted by Illinois Attorney General Lisa Madigan in July 2011 regarding an investigation into MERS that she was starting, they must feel that AG Madigan’s investigation is either going nowhere, or was dropped once she signed onto the 49-state “

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