Local Business Alert: Reston-based MERS accused of fraud over shoddy foreclosure paperwork

	Friday, February 3, 2012 1:44:05 PM LOCAL BUSINESS ALERT Reston-based MERS accused of fraud over shoddy foreclosure paperwork New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures. Democrat Eric Schneiderman sued Bank of America, J.P. Morgan Chase and Wells Fargo over their use of the Mortgage Electronic Registration Systems Inc., or MERS, claiming the banks submitted court documents containing false and misleading information that appeared to provide the authority for foreclosures when there was none. The lawsuit also names the registry operator, MERSCORP Inc. of Virginia. Read more at: http://www.washingtonpost.com/business/markets/ny-ag-schneiderman-sues-banks-accusing-them-of-deceit-in-use-of-electronic-mortgage-registry/2012/02/03/gIQAfEHEnQ_story.html Or visit PostBusiness.com or Capital Business. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071 ©2011 The Washington Post Privacy Policy