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
Read MoreRating 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
Read MoreSixth 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
Read MoreTennessee 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
Read MoreBransten 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
Read MoreUS 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
Read MoreKansas 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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