The Mortgage Netherworld

I meant to mention this NYT article from Thursday, with a wild graphical depiction of MERS — Mortgage Electronic Registration Systems — that holds over 60 million mortgages on American homes:

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click for ginormo graphic
24mers-graf011

via NYT

The full article is worth reading . . .

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Source:
Tracking Loans Through a Firm That Holds Millions
MIKE McINTIRE
NYT, April 23, 2009
http://www.nytimes.com/2009/04/24/business/24mers.html

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