Seventh Circuit Court of Appeals Dismisses Illinois Recording Fee Case Against MERS

February 13, 2014

Mason County alleged that MERSCORP and MERS were unjustly enriched because the entities did not pay recording fees when promissory notes were transferred. In dismissing the lawsuit, judge Richard A. Posner wrote that MERSCORP and the banking industry is not required to "adopt a system of mortgage protection that generates revenues for a state or local government."

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.