The "Altec Properties, Inc." matter in Texas appears to be simply another curiosity arising out of the reckless and irresponsible management of the criminal enterprise known as Mortgage Electronic Registration Systems, Inc. (Delaware).
As you are no doubt aware, Mortgage Electronic Registration Systems, Inc., is a Delaware Corporation and wholly owned subsidiary of MERSCorp.
However, separate from, and in addition to, its operations which deprive local recording officials of recording fees, MERS also generally has unlawfully refused to register to do business as a foreign corporation in most other jurisdictions, this despite the fact that MERS is the "nominee" of records for upwards of 60 million mortgages, deeds of trust, security deeds and other mortgage security instruments in all fifty states.
MERS is registered in only a handful of states and seems to register only when someone actually notices and denies MERS' corporate capacity to sue given the lack of registration.
MERS' registration status in Texas is exemplary.
Despite the fact that MERS is shown to be the nominee for in excess of 2 million Texas deeds of trust, has hundreds of MERS officers working on a daily basis in the State of Texas, and has its national registry servers located in Plano, Texas, MERS is not registered as a foreign corporation within the state.
But failure to register has another interesting consequence.
Registration is not only the right thing to do (and required by law), but also reserves a particular corporate name, precluding others from filing registration papers under that name.
Mortgage Electronic Registration Systems, Inc. (Texas) / Altec Properties, Inc.
Since MERS had never registered its name within the State of Texas in accordance with law, some ingenious person got the idea to start a Texas domestic corporation with that name. And on May 29, 2009, seems to have registered a new company in Texas with the precise name "Mortgage Electronic Registration Systems, Inc." See Texas Secretary of State Document Number "259892460002".
This new Texas domestic corporation named MERS then filed two changes of registered agent/office on June 9, 2009 ("261226710003") and August 17, 2009 ("271292390003"). Then, on September 15, 2009, this firm filed an amendment to its articles of incorporation changing its name to "Altec Properties, Inc." ("274759530002").
The charter was subject to a tax forfeiture on May 13, 2011 ("368181181140").
The last corporate offices were shown to be at:
Altec Properties, Inc.
1523 STREAMS WAY
ALLEN, TX 75002-0911
The registered agent was last shown to be:
Robert Jacobsen The Tax Identification Number for Altec Properties, Inc. was 32-039609162.
101C North Greenville Ave, #750
Allen, TX 75002 USA
This information can be verified through the Texas Secretary of State's Office. See:
The Texas Comptroller of Public Accounts also maintains a separate web site which may be searched for Texas taxable entities:
Some of the information given above can also therefore be verified by inspection of the Comptroller's pages for Altec Properties, Inc.:
The mention of Altec Properties, Inc. in the two Campbell cases involving Litton Loan is, indeed a bit of a further curiosity, as well. Without a careful inspection of the pleadings in those cases, it is unclear to me whether it was the plaintiff or the defendant which mistakenly identified Altec as the nominee under the deed of trust.
Clearly, filing a corporate registration creating a new Texas domestic corporation named "Mortgage Electronic Registration Systems, Inc." would not have vested any rights and interests of the Delaware company in this new entity. But in failing to properly register, MERS clearly created an opportunity for someone to file a registration under this same name, creating at least some confusion.
Given the overall marginal competence of the foreclosure mill attorneys and paralegals it would be unsurprising if they found the online filings and mistakenly introduced "Altec" into some proceedings. Most of the foreclosure mill attorneys are actually barely competent to practice law and seem only to be able to obtain default judgments against undefended borrowers. When a real lawyer shows up and actually holds them to any evidentiary standards, these incompetent and dishonest attorneys very often wither.