Would a Federal Land Titling System Help Your Business? Rep. Marcy Kaptur thinks so
|July 14, 2011|
U.S. Rep. Marcy Kaptur (D-OH) revived her misguided proposal from last year and is once again trying to create a political path for a federal land titling system.
If passed the Transparency and Security in Mortgage Registration Act of 2011 (H.R. 2425) would require HUD to study the creation of a federal land titling system. The bill also effectively kills the Mortgage Electronic Registration System (MERS) by banning the GSEs from using the system which will result in agents not being able to identify the holder of a note through MERS.
The recording of documents associated with the local transfer of property should not be governed the federal government. Property rights need to continue to be protected through local county recorders working with the land title industry.
Please contact your member of Congress to ask them not to support H.R. 2425.
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