Suing MERS: Calif Case Reaches Supreme Court and States, Counties Pursue Claims for Lost Fees - But Whose Pockets Would Pay Their Damage Claims?


Last November, we posted about the inevitability of lawsuits being filed against MERS (Mortgage Electronic Registration Systems) although last fall discussions surrounded things like what causes of action could be pursued, and what parties would have standing to do so. (See, The MERS Mess: A Pandora's Box of Legal Issues.)

One big factor here: who really owns MERS, because those are the deep pockets that any lawsuit will have to depend upon to pay any resulting judgment, should there be victory for the plaintiff. And MERS isn't its own independent entity: MERS is privately owned by a number of leading national banks and mortgage processing companies (identified here) that include Fannie Mae, Freddie Mac, Bank of America, CitiMortgage, Merrell Lynch, and WellsFargo.

Now, consider this.

Private Citizens Seek Claims Against MERS for Due Process Violations in Faulty Foreclosure Actions

This week, a California man named Jose Gomes has filed a petition for writ of certiorrari with the United States Supreme Court, Case No. 11-195 styled Gomes v. Countrywide (check docket here), asking that the highest court in the land review lower court decisions in California who have not found that Mr. Gomes was denied his constitutionally protected due process when MERS foreclosed upon his home without the proper paperwork to legally support MERS' authority to do so.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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