<Doesn't this sound like an echo of the whole
"dematerialization" of stock shares ?>
"The concept of
central electronic registration of ownership rights and avoiding the
creation of new securities and their conveyance upon ownership transfer
is not a new one. It has met with large success in the securities
industry, where many stocks and bonds are centrally registered with the
Depository Trust Company."
...EDS today announced a pair of
contract renewals valued at $50 million for information technology (IT)
and business process outsourcing services with Mortgage Electronic
Registration Systems, Inc. (MERS), the organization created by the
mortgage banking industry to streamline the mortgage process by using
electronic commerce to eliminate paper.
“We are working with EDS
[HPQ] to move the mortgage industry toward a paperless environment by
creating a universal system for electronic mortgage registrations and
tracking of ownership,” said R.K. Arnold, president and CEO of MERS.
“Our long relationship with EDS [HPQ] has helped us become an essential
player in streamlining the mortgage process, and will help us develop
new e-commerce markets in the future. Our goal is to register every
mortgage loan in the U.S. on the MERS ® System.”