Washington Supreme Court: MERS cannot obtain foreclosure power without note

State officials recently told the Idaho Statesman that only two states – Washington and Louisiana – even have recognized. Multiple national news stories about Idaho’s militia groups note that many.

Maine Supreme Court Hands Major Defeat to MERS Mortgage Registry Posted on July 8, 2014 by Yves Smith Yesterday, we wrote about a major loss by the electronic mortgage registry, MERS, in a major Federal court case in Pennsylvania .

Two Appellate Courts in California, citing two separate rationales, have upheld the legal standing of MERS to foreclose. plaintiff’s attorneys and later transferring the loan to its foreclosure.

Mortgage applications drop after big jump “The jump in pending sales from March may show up in May existing sales rather than in April,” Berson said. “With mortgage rates having fallen so sharply in recent months, there has been a rise in.

Life on MERS: Mapping the Landscape | Stay Informed | K&L Gates – The appellate court reversed the decision of the Supreme Court (the trial court in New York), which had denied the defendant borrowers’ motion to dismiss the plaintiff’s foreclosure action, because the "consolidation agreement" "did not give MERS title to the note, nor [did] the record show that the note was physically delivered to.

Foreclosure denied when the lender obtained assignment of the note and mortgage after filing the foreclosure action. The court dismissed the foreclosure claim without prejudice, so the lender can refile now that it has obtained a written assignment of the mortgage and lawful possession of the note.

The Supreme Court belongs to the small club. because “like the rest of us he had to eat and drink.” Without honest men like Conkling and Stewart in Congress, Huntington once said, the corrupt would.

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The Appeals Court has now reaffirmed its holdings that the MERS model comports with Massachusetts law, that a mortgagee is not required to have any interest in the underlying note prior to foreclosure, and that a mortgagee requires no authorization from the noteholder to assign the mortgage to another party.

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A quick note: a release of mortgage could happen when the mortgage is paid off, or could also happen in a "deed in lieu" foreclosure, where the family gets a release of mortgage and agrees to hand over the home without debt. Given Residential Credit Solutions’ profile as a delinquent loan specialist, the latter is more likely in my opinion.