Mortgage Data Trackers in Talks on Linkup

American Banker (02/13/08) P. 1; Berry, Kate
An established electronic loan registry tracking more than half of all originations could soon pair up with a newly created database of state-licensed mortgage lenders and brokers. Merscorp Inc.'s 13-year-old system, which keeps track of sales of loans and their servicing rights for 3,000 subscribers--including the top 100 originators--has data on 52 million loans. The Conference of State Bank Supervisors, meanwhile, just launched its national database in January and has only seven state members so far but could benefit from a partnership with the Mers system. Under a possible joint effort, the Conference of State Bank Supervisors would use Merscorp's lender identification numbers in its Nationwide Mortgage Licensing System--which would make it easier to identify the sources of fraud or questionable underwriting, particularly when a loan has be sold multiple times.