MERS

News & Analysis as of

Fifth Circuit Dismisses RICO Claims Against MERS; Texas District Court Dismisses Similar Claims

On March 5, the U.S. Court of Appeals for the Fifth Circuit affirmed on different grounds the dismissals of two cases filed against MERS, the electronic mortgage registry, and its member banks, holding that the complaints...more

Mortgage Banking Update - March 08, 2013

In This Issue: - Kentucky County Clerks Cannot Sue MERS for Failure To Record Mortgage Assignments, Sixth Circuit Rules - Bipartisan Policy Center Proposes New Directions for National Housing Policy - FTC...more

Kentucky County Clerks Cannot Sue MERS for Failure to Record Mortgage Assignments, Sixth Circuit Rules

The U. S. Court of Appeals for the Sixth Circuit recently affirmed the district court’s dismissal of a putative class action filed against Mortgage Electronic Registration Systems (MERS), its parent company, and 15 financial...more

First Circuit Holds Massachusetts Borrower Can Challenge The Validity Of A Mortgage Assignment, But Holds The Assignment Valid

On February 15, the U.S. Court of Appeals for the First Circuit held a borrower had standing to challenge the assignment of the borrower’s mortgage under certain circumstances, even though the borrower was not a party to the...more

Mortgage Banking Update - February 21, 2013

In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more

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

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

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

Navigating Non-Judicial Foreclosures -- After Bain v. Metropolitan Mortgage Group, Inc., et al.

Originally published in Washington Bankers' Issues & Answers - November/December 2012. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in...more

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

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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