MERS bill possible forthcoming from Oregon Senate

The Willy Week reports this, today.  This is great law, which would clarify recording requirements for certain residential mortgages.  It is arguably redundant, as Judges are finding that Oregon laws prevent mortgages recorded in MERS's name to be foreclosed upon anyway.  However, the article suggests that efforts may be pre-emptive, as the mortgage industry will likely lobby for changes in Oregon law which allow MERS mortgages to be foreclosed upon.