REFinBlog

March 27, 2013

Georgia Bankruptcy Court Holds that Security Deed Creates an Agency Relationship Between Lender and MERS

In Drake v. Citizens Bank of Effingham, et. al., AP No. 10-4033 (Bankr. S.D. Ga. Feb. 28, 2011), the court held that the security deed granted to MERS satisfied the requirements of Georgia law and the language of the security … Continue reading →

Connecticut Superior Court Recognizes MERS’ Status as Mortgagee and MERS’ Subsequent Assignee

In LaSalle Bank v. Johnson, No. CV‐085016113, 2009 WL 2872844 (Conn. Super. Aug. 10, 2009), the court recognized MERS’ status as mortgagee and MERS’ subsequent assignment of the mortgage. Fremont Investment & Loan loaned Ronald Johnson $192,000.00. To secure a … Continue reading →

March 26, 2013

US District Court for Arizona Rejects Split-Note Theory Claim Made in Multi-District Litigation

In In Re MERS Litigation, 09-2119-JAT (D. Ariz. 2011), the case was a multi-district litigation concerning claims related to the formation and operation of MERS, Inc. and MERSCORP, Inc. The plaintiffs alleged violations of Arizona Revised Statutes (“A.R.S.”) § 33-420; the … Continue reading →

District Court of Arizona Rejects Homeowners’ Motion to Remand, Grants Lender’s Motion to Dismiss, Without Prejudice

In Kane v. Bosco, 10-CV-01787-PHX-JAT, 2010 WL 4879177 (D. Ariz. Nov. 23, 2010) the court denied plaintiffs’ motion to remand, and granted defendants’ motions to dismiss, without prejudice. In 2005 plaintiffs/homeowners, Peter and Diane Kane, refinanced their residential loan for … Continue reading →

District Court of Arizona Grants Lender’s Motion to Dismiss in Part, Denying Relief Only on Homeowners’ Quiet Title Claim

In Higton v. Quicken Loans, Inc., 2:10-CV-01320 JWS, 2011 WL 333357 (D. Ariz. Jan. 31, 2011) the court granted defendant, Quicken Loans, Inc.’s (“Quicken”), motion to dismiss for failure to state a claim in part and denied relief in part. … Continue reading →

District Court of Illinois Grants Ocwen Loan Servicing’s Motion for Summary Judgment, Finding MERS had Authority to Assign Mortgage & Note

In Ocwen Loan Servicing LLC v. Kroening, 10 C 4692, 2011 WL 5130357 (N.D. Ill. Oct. 28, 2011), the District Court for the Northern District of Illinois granted Ocwen Loan Servicing’s motion for summary judgment to foreclosure. Defendant/homeowner, Victoria Kroening … Continue reading →

Kentucky Counties Sue MERS and Banks for Recording Fees

In Boyd County, et al. v. MERSCORP, Inc., 0:12-cv-00033-HRW (Apr. 19, 2012) several counties in Kentucky brought a lawsuit against MERS and several Banks for lost recording fees. On August 7, 2012, the U.S. District Court for the Eastern District of … Continue reading →