Monthly Archives: March 2013

The Michigan Court of Appeals Holds that Sheriff’s Sale was Invalid because MERS Foreclosed on Homeowner’s Property using Nonjudicial Foreclosure by Advertisement even though MERS was only a Mortgagee

March 31, 2013

by Robert Huberman

In Richard v. Schneiderman & Sherman, PC, 294 Mich. App. 37, 818 N.W.2d 334 (2011), the Michigan Court of Appeals held that MERS foreclosure by Advertisement was void ab initio. Aaron Richard, homeowner, appealed an order granting summary disposition in … Continue reading

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Rating Agency Reform

March 29, 2013

by David Reiss

Emily McClintlock Ekins and Mark A. Calabria have recently posted a policy analysis to SSRN, Regulation, Market Structure, and Role of the Credit Rating Agencies.  They argue, as others have before them, that the major rating agencies are an oligopoly.  … Continue reading

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Sixth Court of Appeals Clarifies Recording Fee Standing Issue

by Karl Dowden

In Christian County Clerk, et al. v. Mortgage Electronic Registration Systems, Inc., et al., No. 12-5237 (6th Cir. 2013), the United States Sixth Circuit Court of Appeals heard a case on appeal from the United States District Court for the … Continue reading

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Tennessee Court of Appeals Dismisses Homeowner Complaint as Unripe

March 28, 2013

by Gloria Liu

In Mills v. First Horizon Home Loan Corp., No. W-2010-00310-COA-R3-CV, 2010 WL 4629610 (Tenn. Ct. App. Nov. 16, 2010), the court dismissed the homeowners complaint as unripe for declaratory judgment. It did not find that the mortgage would be unenforceable … Continue reading

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Bransten Trio: Part Tres

by David Reiss

The last of the Bransten Trio of cases (previously, I wrote of Part Un and Part Deux) dealing with Allstate’s complaint against Morgan Stanley has some of the allegedly misrepresentative language at issues in such cases.  A sampling includes “These … Continue reading

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US District Court of Nevada Dismisses Motion of Wrongful Foreclosure, Negligence and Quiet Title

by Gloria Liu

In Vazquez v. Aurora Loan Services, No. 2:08-CV-01800-RCJ-RJJ, 2009 WL 1076807 (D. Nev. 2009), the court granted MERS’ motion to dismiss claims of wrongful foreclosure, negligence and quiet title and found that the land records “sufficiently demonstrate[d] standing by Defendants … Continue reading

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Kansas Bankruptcy Court Finds that Agency Relationship Exists With Use of the Word “Nominee”

by Gloria Liu

Martinez v. MERS, et al., No. 09‐40886, 2011 WL 489905 (Bankr. D. Kan. Feb. 10, 2011), the court held that assignment of the Note and Mortgage to different entities does not render them void because such a split may be … Continue reading

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