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Under Massachusetts law, Mortgage Electronic Registration Systems, Inc., or MERS, has the power, as nominee beneficiary, to assign its interest under a deed of trust, the U.S. Court of Appeals for..
Appeals Court Clarifies MERS Role in Foreclosures. Thus, the order is reversed, on the law, and the motion of the defendants Stephen Silverberg and Fredrica Silverberg pursuant to CPLR 3211 (a) (3) to dismiss the complaint insofar as asserted against them for lack of standing is granted.
New York Federal and State Courts Question MERS Assignments Joy Harmon Sperling and Michael A. Weiss, Day Pitney LLP Introduction Two recent decisions in a bankruptcy court and a New York appellate court could have a wide reaching impact on lenders in New York and, perhaps, throughout the nation.
NY appellate court scrutinizes the MERS standing issue Litten Contents Releases borrower assistance results Clayton holdings names Webb:.. malone consulting Royce ’46. foss marine holdings Major ratings agencies Appellate.
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the sale. Defendant argues that plaintiff Mortgage Electronic Registration Systems, Inc. (MERS), did not have standing to prosecute this foreclosure action and, thus, the circuit court orders rendered in favor of MERS were void. For the reasons that follow, we affirm the judgment of the circuit court. I. BACKGROUND
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New York Appellate Court rejects validity of loan assignments by MERS. The defendants appealed this decision and set forth several arguments as to the plaintiff’s lack of standing: (i) MERS and Countrywide did not transfer or endorse the notes. Until the New York Court of Appeal, New York’s highest court, rules on these issues, the.
New York Courts Split in Authority. The issue of standing has been at the center of hundreds of contested residential mortgage foreclosure actions. Despite the volume of mortgage foreclosure actions in which the plaintiff’s standing has been a central issue, the New York State Court of Appeals avoided weighing until June 11, 2015,
NY appellate court scrutinizes the MERS standing issue From Housing Wire A decision by New York’s 2nd appellate division may not have a direct impact on the issue of when Mortgage Electronic Registration Systems has standing in foreclosure cases, but it contains persuasive language that could be a shot across the bow when it comes to jurisdiction relating to MERS.