Merscorp Holdings will provide the state of Delaware's Department of Justice Consumer Protection Unit a semi-annual report detailing results of its internal audits, according to the terms of a settlement agreement that resolves the state attorney general's October 2011 lawsuit against the private loan registry.

In addition, the settlement calls on the Reston, Va.-based company to agree to a number of quality control and transparency requirements. While the semi-annual reports will include information about Merscorp's progress in implementing the settlement, the audit details and a description of any material changes to Merscorp's policies and procedures, the Delaware Justice Department will only be allowed to share the information with certain authorized state and federal law enforcement officials.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.