MERS http://wfpl.org en Conway Alleges Mortgage Swapping Company Violated State Law http://wfpl.org/post/conway-alleges-mortgage-swapping-company-violated-state-law <p></p><p></p><p><strong>UPDATED</strong>&nbsp;&nbsp;</p><p><span style="line-height: 1.5;">Claiming they committed fraud, Kentucky Attorney General Jack Conway has filed a suit against a mortgage company.</span></p><p>Mortgage Electronic Registration Systems, or MERS, provides a marketplace for banks to trade mortgages and mortgage-backed securities.</p><p>Conway says it was set up by banks to avoid the fees that must be paid when mortgages are sold and to hide the true owners of those mortgages.</p> Wed, 23 Jan 2013 20:26:24 +0000 Kenny Colston 3565 at http://wfpl.org Conway Alleges Mortgage Swapping Company Violated State Law