The Dallas County District Attorney's office said Tuesday in a press release that it expanded its lawsuit against the Mortgage Electronic Registration System and its parent company to a class action lawsuit that includes other counties.
It was not clear Tuesday afternoon which other counties were involved.
The DA's office did not say which other counties will be included. Dallas County argues that MERS acted as a "shadow recording system for the millions of mortgages in the United States, save its members money by avoiding filing fees in counties like Dallas County, and facilitate the buying and selling of mortgage rights as commodities," according to the press release.
Typically when mortgages change hands, a fee is paid the county. If the mortgages switched ownership within companies that were a part of MERS, no fee was paid. The district attorney's office said that the county is owed those fees.
It was not clear Tuesday afternoon which other counties were involved.
The DA's office did not say which other counties will be included. Dallas County argues that MERS acted as a "shadow recording system for the millions of mortgages in the United States, save its members money by avoiding filing fees in counties like Dallas County, and facilitate the buying and selling of mortgage rights as commodities," according to the press release.
Typically when mortgages change hands, a fee is paid the county. If the mortgages switched ownership within companies that were a part of MERS, no fee was paid. The district attorney's office said that the county is owed those fees.
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