An Express Article from the California Land Title Association
Bulletin 10/11-87 - May 5, 2011
On May 3rd, CLTA helped to kill AB 1321 (Wieckowski) in the Assembly Judiciary Committee. As part of a larger coalition involving MERS and lenders, CLTA helped to convince the Judiciary Committee to hold the bill in Committee because of the numerous problems associated with abandoning the MERS system. The bill was essentially designed to force lenders to record all assignments in California rather than use a centralized MERS process that better accommodates the needs of the secondary market. AB 1321 is one of several anti-lender bills introduced in California that CLTA, lenders, and other coalition members have been able to defeat this year.