MERS Information Screen

Forms & Docs > MERS Information

The MERS Information screen is used to capture additional information for submitting an application to MERS. To access the MERS Information screen the Investor Lock screen must be saved (see Investor Lock section).

The MERS Information screen is divided into five sections: MERS Information, Loan Information, Borrower Information, Property Information and Error.

 

MERS Information

The Institution’s MERS Org ID will populate from the corresponding Institution. In the event that the institution does not have a MERS Org ID, the default MERS Org ID will populate. The Institution MERS Org ID will be included in the final MIN.

The loan number will automatically populate from the system generated or user updated loan number for the loan file.

Mortgage Identification Number (MIN) will automatically populate and is a combination of three parts; the seven digit Institution Org ID, the 10 digit loan number and a check digit. A check digit is a one digit mathematical calculation used in verifying the validity of the other numbers.

 

Tip: The different numbers are appended to one another to produce the final MERS number.

 

Institution Org ID +Loan Number + Check Digit = MIN

1234567+0000000001+5=123456700000000015

 

The Investor Org ID will automatically populate from the admin site based on the Investor selected. If no Investor Org ID exists, this field will remain blank. The investor is chosen in Forms & Docs > Investor Lock screen. This ID is passed to MERS as part of the loan registration data, but it is not part of the final MIN itself. MERS will not accept registrations without valid Investor Org IDs.

 

The Servicer, Sub-Servicer, Interim Funder and Gestation Lender drop-down lists are set up in the admin site and chosen via a dropdown. The Servicer Org ID is required and will automatically populate based off of the Servicer chosen.

 

The MERS Registered drop-down list is used to mark whether the loan was previously registered with MERS.

 

The MERS Original Mortgagee (MOM) drop-down list is used to identify whether the company has the right to act on behalf of the current and subsequent owners of the loan.

 

The MIN Registration Date is a manually entered date that tracks when the MIN was registered with MERS.

 

The Originating Organization section states that the Origination Org ID must be present for MOM loans and Non-MOM loans and must have an origination organization. Users have the ability to specify which Org ID will be used by choosing whether the Institution’s Org ID, Origination Org ID or the Original Note Holder name will be used when submitting to MERS.

 

Loan Information

The Loan Information section will automatically populate the Lien Type and Loan Amount from the Forms & Docs > Borrower Summary screen and the Note Date from the Closing Docs > Loan Tab > Closing (Note) Date.

 

Borrower Information

The Borrower Information section will automatically populate the Borrower Type, First Name, Last Name and SSN from the Forms & Docs > Borrower Summary screen.

 

Property Information

The Property Information will automatically populate the Address, City, State, Zip and County from the Forms & Docs > 1003 > Property Tab.

 

Errors

The Errors section of the screen will provide all missing fields that are required for a MERS submission.

Save/Close updates the MERS Information screen and the user is sent to the Loan Dashboard.

Cancel will remove any newly input data and return the user to the Loan Dashboard.