Mers Min Number Clause Samples

The "Mers Min Number" clause establishes a minimum threshold for the number of Mortgage Electronic Registration Systems (MERS) identification numbers required in a given transaction or agreement. In practice, this clause specifies that a certain minimum number of MERS IDs must be assigned to the loans or mortgages involved, ensuring that each asset is properly tracked and registered within the MERS system. By setting this minimum, the clause helps maintain accurate record-keeping and compliance with industry standards, reducing the risk of administrative errors or gaps in loan tracking.
Mers Min Number. MERSFLAG* TinyInt 1 1 MERS Flag (1=Checked 0 = Unchecked) BOOKPAGE Char(10) 10 Instrument Book and Page number CTRLNUM Varchar(7) 7 Control Number INSTRUMENT Varchar(20) 20 Instrument Number RECORDED Small Date MM/DD/YYYY 10 Recorded Date CURR_UPB Numeric 12.2 14 Current Unpaid Principal Balance INVEST_KEY Char(20) 20 Investor Id ISMOM TinyInt 1 1 MOM Flag (1 = Checked 0 = Unchecked) TRUSTNUM VarChar(40) 40 Trust Number UDF_CHAR1* Varchar(40) 40 User Defined Character Field 1 (co-op) UDF_CHAR2 Varchar(40) 40 User Defined Character Field 2 UDF_DATE1 Small Date MM/DD/YYYY 10 User Defined Date Field 1 UDF_DATE2 Small Date MM/DD/YYYY 10 User Defined Date Field 2 UDF_DOL1 Numeric 12.2 14 User Defined Dollar Field 1 UDF_DOL2 Numeric 12.2 14 User Defined Dollar Field 2 UDF_PCT1 Numeric 4.6 10 User Defined Percentage Field 1
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