MISMO to Charge 75-Cent Fee on MERS-Registered Loans to Fund Initiatives

Mortgage Bankers Association

The administrative fee will go into effect July 1 on every new loan registered on the MERS system. All proceeds collected will go directly to MISMO to advance and accelerate production of products and services MISMO creates for the industry. MERS will be the billing agent for MISMO and will retain none of the fee. In this role, it will serve as a utility providing a service to MISMO and the industry... Read More Here!