Register of Deeds in Massachusetts Urges State to Pull Business from Bank of America

Last month, South Essex County Register of Deeds John L. O’Brien announced that he believed MERS owed the taxpayers of his county about $22 million and about $200  million statewide–that’s his estimate of the money counties in Massuchusetts lost as the result of MERS members using the electronic registry to circumvent proper recording.

Now, O’Brien has written to the Massachusetts State Treasurer asking that his county’s deposits–totally approximately $25 million–be pulled from Bank of America and deposited with a community bank that is not a member of MERS.