News & Analysis as of September 21, 2024

Foreclosure › MERS

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Sixth Circuit Nixes TILA Rescission Claim

Butler Snow LLP on 8/18/2016

Two homeowners tried to rescind their home mortgage loan when they weren’t notified that the deed of trust had been assigned. Although this argument may have been a creative way to stave off a foreclosure, it was not...more

Fifth Circuit Court of Appeals Upholds MERS’ Authority to Assign Mortgages

Bradley Arant Boult Cummings LLP on 10/23/2015

The Fifth Circuit Court of Appeals recently handed Mortgage Electronic Registration Systems, Inc. (MERS) another victory against challenges to MERS’ authority to assign a mortgage. In Ferguson v. Bank of New York Mellon, the...more

Nevada Supreme Court Reverses Course on MERS

Bradley Arant Boult Cummings LLP on 9/10/2015

The Nevada Supreme Court recently reversed – or at least clarified – the impact of MERS in Nevada under the approach set forth in the Restatement (Third) of Property: Mortgages. The Supreme Court had held in 2012 that at the...more

Eleventh Circuit: No Wrongful Foreclosure Claim Under Georgia Law Where Foreclosure Was Result of Borrowers’ Default

Burr & Forman on 7/16/2015

In Haynes v. McCalla Raymer, LLC, No. 14–14036, __ F. 3d __, 2015 WL 4188459 (11th Cir. July 13, 2015), the Eleventh Circuit Court of Appeals affirmed the Northern District of Georgia’s grant of summary judgment in favor of...more

Does Your Notice of Default and Right to Cure Letter Comply with Maine Law?

Pierce Atwood LLP on 10/2/2014

The Maine Law Court’s recent decision Bank of America, N.A. v. Greenleaf, 96 A.3d 700 (Me. 2014) has drawn significant attention to the issue of a mortgagee’s standing to foreclose a mortgage it holds by assignment from...more

Maine Supreme Court Addresses MERS Assignments and Payoff Amounts During Cure Periods

Bradley Arant Boult Cummings LLP on 8/26/2014

The Maine Supreme Court has been active in the last few months – issuing several decisions that will likely impact foreclosure actions in that state. The decisions covered a full range of foreclosure issues, from whether a...more

MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules

Ballard Spahr LLP on 2/20/2013

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 the First Circuit has ruled....more

Tennessee Court of Appeals Confirms Foreclosures Cannot Be the Basis for a TCPA Claim

Baker Donelson on 2/15/2013

On September 25, 2012, the Middle Section of the Tennessee Court of Appeals issued an opinion confirming that foreclosure proceedings cannot serve as the basis for a Tennessee Consumer Protection Act (TCPA) claim. ...more

Nevada Rejects Literalist View on Some Lender and Trust Deed Holder Requirements for the Right to Enforce

Snell & Wilmer on 12/18/2012

Nevada’s Foreclosure Mediation Program (FMP), statutorily mandates mediation before a non-judicial foreclosure of an owner-occupied residence can proceed. It also encourages the judicial review of that mediation. It has been...more

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Foreclosure › MERS

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