CFPB Quietly Names MERS Critic To Enforcement Unit

Posted by Orb Staff on May 10, 2012 No Comments
Categories : Mortgage Servicing

11523_chris_peterson CFPB Quietly Names MERS Critic To Enforcement Unit The Consumer Financial Protection Bureau (CFPB) has quietly named a longtime critic of the Mortgage Electronic Registration System (MERS) as a member of its enforcement unit.

The Salt Lake Tribune reports that Christopher L. Peterson has taken a leave of absence from his law professor duties at the University of Utah to work at the CFPB. The CFPB did not make an official announcement regarding Peterson's appointment and his duties in the enforcement unit.

Peterson, who joined the University of Utah faculty in 2008, was formerly a consumer rights attorney for the U.S. Public Interest Research Group. According to his biography on the University of Utah website, he also ‘lobbied Congress and federal regulatory agencies on consumer lending policy.’

Peterson has published several articles that were critical of MERS' role in the mortgage banking industry; according to his university website biography, he is currently at work on a book entitled ‘Mortgage Racketeering.’ He has also written extensively on the payday lending industry, with a focus on the impact of payday loans on active-duty military personnel.

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