MERS Requirements

Naming MERS as the Nominee for the Beneficiary in the Security Instrument

Homium will designate MERS as the nominee for the beneficiary in the security instrument. Doing so, eliminates the need for a subsequent assignment of the security instrument should Homium sell (or transfer servicing of) the loan to another seller/servicer that is a member of MERS. In such cases, the applicable security instrument must be modified to:

• show MERS as the nominee for Homium,

• Show Homium as the lender and

• obtain the borrower’s acknowledgment of MERS’ role in the mortgage transaction.

Homium and its closing agent is responsible for the accurate and timely preparation and recordation of the security instrument and any MERS-related documents required to be used in specific geographic areas. Homium will also take all reasonable steps to ensure that information pertaining to MERS is updated and accurate at all times.

Even when MERS is named as the nominee for the beneficiary in the security instrument, it has no beneficial interest in the mortgage. All actions that MERS takes with respect to a loan are based on the instructions initiated by Homium or the servicer. T