Georgia Court Authoritatively Recognizes MERS’ Right to Foreclose

Posted by & filed under 2005, Downstream litigation, Foreclosures, Georgia, MBS industry, MERS/Bank has standing.

The court in American Equity Mortgage, Inc. and Mortgage Electronic Registration Systems, Inc. v. Chattahoochee National Bank, # 05-cv-1951 (Forsyth Cty. Sup. Ct., Dec. 29. 2005) authoritatively recognized the right of MERS to foreclose. This case involved an action to enjoin an immediate judicial sale due to equitable subrogation in which the court recognized the… Read more »

Florida Circuit Court Holds that MERS has No Standing if it Never Held the Mortgage Note

Posted by & filed under 2005, Downstream litigation, Florida, MERS/Bank lacks standing.

In MERS, Inc. v. Cabrera, (11th Cir. Sept. 16, 2005), the court held that MERS’s allegations that it “owned”, “held” and “possessed” the mortgage notes are clearly, palpably and inherently false because it never held the Note in its physical possession. The plaintiff Cabrera alleged that it owned and held the Note and Mortgage. MERS… Read more »