Mortgage Electronic Registration System (MERS) consists of three separate legal entities, the first created by William Hultman in 1996.  The initial entity was the idea of a group of the largest US banks, Fannie Mae, and Freddie Mac and several mortgage bond insurance companies.  MERS was likely an effort to evade county real property recording fees, reduce the legal and logistical burden of actually and physically endorsing promissory notes and mortgages and, perhaps, to frustrate the ability of borrowers to contest foreclosure actions by disguising the rea