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
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
Since the mortgage crisis began several years ago, the Mortgage Electronic Registration System (“MERS”) has faced numerous legal attacks relating to foreclosures, assignments and what interest MERS holds in a deed of trust or...more
In This Issue: - Supreme Court Provides TILA Home Loan Rescission Guidance - West Virginia Legislature Proposes Changes to the WVCCPA - Defeating Another Challenge to the Mortgage Electronic Registration System...more
On September 25, 2014, after years of litigation on the role, authority, and legal standing of Mortgage Electronic Registration Systems, Inc. (MERS) to act on behalf of the mortgagee, the Rhode Island Supreme Court issued 10...more
This post is the third in a series of posts analyzing the 2013-14 term of the Wisconsin Supreme Court. This post provides in a nutshell what businesses need to know about the cases from last year’s term of the...more
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
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
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
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