"The court recognizes that an adverse ruling regarding MERS’s authority to assign mortgages or act on behalf of its member/lenders could have a significant impact on MERS and upon the lenders which do business with MERS throughout the United States. However the court must resolve the instant matter by applying the laws as they exist today.
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Appeals Court Clarifies MERS Role in Foreclosures. The ubiquitous Mortgage Electronic Registration Systems, nominal holder of millions of mortgages, does not have the right to foreclose on a mortgage in default or assign that right to anyone else if it does not hold the underlying promissory note, the Appellate Division, Second Department, ruled Friday.
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Later in the month, MERS secured another win from the same court, when the united states sixth Circuit Court of Appeals issued a ruling that upheld a dismissal by the United States District Court.
Michigan Court of Appeals: A party must clearly show fraud or irregularity in the foreclosure process AND prejudice from failing to comply with the statutory foreclosure process. The Court of Appeals held that Conlin’s allegations of a "robo-signed" assignment and MERS lack of capacity to assign the mortgage did not demonstrate any prejudice to.
Court rules that MERS meets definition of beneficiary MERS, once blamed for the entire housing crash, is now being affirmed by judges – could more courts and more states rule in favor of MERS as.
A ruling handed down by the United States Sixth Circuit Court of Appeals hands another legal victory to MERSCORP Holdings, which again saw its authority challenged, this time in the state of Kentucky.
MERS has already threatened a "second appeal" (by requesting "reconsideration" by the Supreme Court of Kansas of its decision by the entire panel of Judges in that Court). However, for now, the decision stands, which decision is of monumental importance for borrowers.
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This action caused the bank to file an appeal to the US 6th Circuit Court, where, finally, in January of 2012 the higher court denied the equitable mortgage. Most would consider this a big win, however, if this was a big win, I wouldn’t be sitting here, almost seven years later, feeling compelled to write this letter of regret.