MIDEAST STOCKS - Factors to watch - Sept 25
Sept 25 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
WILMINGTON, Del., July 26 Mortgage Electronic Registration Systems said it was cooperating with an investigation by Delaware Attorney General Beau Biden.
The Delaware investigation of MERS, a key player in the U.S. mortgage system, follows a Monday announcement by Massachusetts Attorney General Martha Coakley, who said her office had begun investigating MERS for its role in connection with illegal foreclosures. [ID:nN1E76O1K3]
"There isn't anything specific that we can say; however, we are cooperating with the Delaware investigation," said Janis Smith, a company vice president, in a statement.
MERS is an electronic-lien registry created by the mortgage banking industry as a way to streamline and speed up the mortgage recording and transfer process.
MERS has been accused of sloppy record-keeping and worse in its massive computer database of U.S. mortgages.
Recent decisions by some state and federal courts have ruled that MERS does not have the right to transfer promissory notes and mortgages.
Biden's office had no comment. (Reporting by Tom Hals; additional reporting by Ros Krasny in Boston; editing by Phil Berlowitz)
ISTANBUL, Sept 24 Ratings agency Moody's cut Turkey's sovereign credit rating to "junk," citing worries about the rule of law after an attempted coup and risks from a slowing economy, in a move that could deter billions of dollars of investment.
ISTANBUL, Sept 24 Credit ratings agency Moody's Investor Service has downgraded Turkey's sovereign credit rating to non-investment grade citing worries about the rule of law following an attempted coup, risks from external financing and a slowing economy.