Analysis of information sources in references of the Wikipedia article "Mortgage Electronic Registration Systems" in English language version.
In order to halt foreclosure and try for loan modification, Huelsman says it was necessary to first contact the actual holder of Bain's loan. The original loan holder, INDYMAC, went bankrupt during the financial crisis. FDIC, which took over the note from INDYMAC, no longer has it. Huelsman says she filed lawsuit, after lawsuit, after lawsuit, only to learn she had not named the actual holder of Bain's loan. "We're contending that MERS made a choice along with the banks, to engage in a practice of hiding the identity of the true owner of the loan, in violation of Washington state laws, " Huelsman explained.
