Monthly Archives: January 2013
New York Supreme Court, Appellate Division, Second Department Holds that MERS has Standing to Foreclose
January 16, 2013
by Michael Liptrot
In Mtge. Elec. Registration Sys., Inc. v Coakley, 41 A.D.3d 674 (2d Dept. 2007), the Supreme Court, Appellate Division, Second Department found that MERS had standing to foreclose on the homeowner. The court held, “[t]he record shows that the promissory … Continue reading
Read MoreFederal Involvement in Real Estate — It’s Big!
by David Reiss
SmartGrowth America has issued an interesting report, Federal Involvement in Real Estate: A Call for Examination, which provides a high level summary of the topic. While it does not contain any surprises, it is somewhat shocking to see the range … Continue reading
Read MoreRating Agency Liability The Wide World Over
by David Reiss
Haar has posted a draft of Civil Liability of Credit Rating Agencies – Regulatory All-or-Nothing Approaches between Immunity and Over-Deterrence. This paper helps to fill in a gap in the literature about potential liability of rating agencies across the globe. … Continue reading
Read MoreClass Action Recording Fee Suit in Missouri Dismissed
by Karl Dowden
Jackson County, Missouri v. MERSCorp, Inc., et al., No. 12-0665-CV-W-ODS (W.D. Mo. Jan. 14, 2013) is a suit by Jackson County to recover lost recording fees resulting from the use of MERS. This suit is a class action law suit … Continue reading
Read MoreLand Use Controls Caused The Financial Crisis?
January 15, 2013
by David Reiss
Respected Housng Economist Edwin Mills and co-author B.N. Jansen write in their article, “Distortions Resulting from Residential Land Use Controls in Metropolitan Areas”, The strong conclusion of this paper is that stringent residential land use controls were a primary cause of … Continue reading
Read MoreUnited States Bankruptcy Court Bound by Precedent to Recognize Bank’s Standing in Foreclosure Action, but Opines on MERS’s Flawed Assignment Process and Status as Agent
January 13, 2013
by Michael Liptrot
In In re Agard, 444 BR 231, 235 (Bankr. E.D.N.Y. 2011) vacated in part sub nom. Agard v. Select Portfolio Servicing, Inc., BR 8-10-77338 REG (E.D.N.Y. 2012), the United States Bankruptcy Court for the Eastern District of New York held … Continue reading
Read MoreNew Jersey Appellate Division Affirms Aurora Loan Servicing’s Foreclosure Judgment, Rejecting Homeowners’ “Exceptional Circumstances” Argument
January 12, 2013
by Joseph Kelly
In Aurora Loan Services, LLC v. Pagano, A-3887-10T1, 2011 WL 6153634 (N.J. Super. Ct. App. Div. Dec. 13, 2011) the Appellate Division of the Superior Court of New Jersey, Atlantic County, affirmed the denial of defendant/homeowners’ motion to vacate their … Continue reading
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