Monthly Archives: April 2013
District Court of Oregon Holds that Assignment is Proper
April 11, 2013
by Gloria Liu
In Stewart v. MERS, No. CV-09-687-PK, 2010 WL 1055131 (D. Or. Feb. 9, 2010), the court granted MERS’ motion to dismiss and found that U.S. Bank was a real party in interest because the assignment from MERS to U.S. Bank … Continue reading
Read MoreCareful When Putting Shoe on Other Foot
by David Reiss
Nestor Davidson has posted a very useful article to SSRN, New Formalism in the Aftermath of the Housing Crisis. The article notes that as “borrower advocates have responded to [the] surge in mortgage distress, they have found success raising a … Continue reading
Read MoreCan’t Stand It, Just Show Me The Note
April 10, 2013
by David Reiss
The federal District Court for Massachusetts issued a Memorandum and Order in Ross v. Deutsche Bank National Trust Company that has two interesting aspects. First, it follows the 1st Circuit’s recently decided Culhane. Second, it reaffirms that “show me the … Continue reading
Read MoreUnited States District Court of Nevada Holds that under Nevada Law, Foreclosure Proceedings can be Commenced by the Beneficiary
April 9, 2013
by Gloria Liu
In Ramos v. MERS, No. 2:08-CV-1089, 2009 WL 5651132 (D. Nev. Mar. 5, 2009), court concluded that, under Nevada law, foreclosure proceedings can be commenced by “the beneficiary, the successor in interest of the beneficiary, or the trustee” and, thus, … Continue reading
Read MoreU.S. Bankruptcy Court of Western District Missouri Holds that Agency Relationship created when MERS is Designated as a Nominee
by Gloria Liu
In re Tucker, 441 B.R. 638 (Bankr. W.D. Mo. 2010), court held that designation of MERS as a nominee in the Mortgage is “more than sufficient to create an agency relationship between MERS and the Lender and its successors in … Continue reading
Read MoreMassachusetts Appellate Court Upholds MERS’ Authority to Assign Mortgage
by Gloria Liu
In Bassilla v. GMAC Mortgage, et al., No. 09-J-519 (Mass. App. Ct. Dec. 4, 2009), Court upheld MERS’ authority to assign the mortgage as the mortgagee. Such authority to assign its mortgage interest was held to exist despite the fact … Continue reading
Read MoreNo News to Report on Preemption
by David Reiss
The Fourth Circuit recently reversed a dismissal of a fraud claim in McCauley v. Home Loan Investment Bank, F.S.B.; Deutsche Bank National Trust Company. The main issue on appeal was whether the Home Owners’ Loan Act preempted the homeowner’s state … Continue reading
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