REFinBlog

February 22, 2013

Utah District Court Holds that MERS Has Authority to Initiate Non-Judicial Foreclosure and Does Not Need to Possess a Note to Appoint a Trustee; Court Holds that TILA Rescission Claim Was Insufficient

In McGinnis v. GMAC Mortgage Corporation, No. 2:10 CV 00301 TC, 2010 WL 3418204 (D. Utah Aug. 27, 2010), the United States District Court of Utah granted Defendants’ motion to dismiss Plaintiff’s claims. On June 21, 2007, Plaintiff obtained a … Continue reading →

Michigan Supreme Court holds that MERS has Standing to Foreclose on Homeowner’s Property by Advertisement

In Residential Funding Co., L.L.C. v. Saurman, 490 Mich. 909, 805 N.W.2d 183 (2011), the Michigan Supreme Court held that under Michigan law, mortgagees of record could commence foreclosures-by-advertisement. Saurman and Messner purchased property and obtained financing from a financial … Continue reading →

U.S. Bankruptcy Court in Kentucky Holds MERS Valid Nominee of Mortgage, Had Authority to Assign Mortgage, and Lender Properly Assigned Note to Citi

In In re Jessup, 2010 WL 2926050, the U.S. Bankruptcy Court for the Eastern District of Kentucky (“Court”) denied the bankruptcy trustee’s (“Trustee”) motion for summary judgment in a suit to set aside Defendants’ mortgage lien against the bankruptcy debtors’ … Continue reading →

Kentucky Court of Appeals Holds that Bank Lacked Standing Because it did Not Obtain an Interest in the Note Until after Commencing the Foreclosure Action

In Morgan v. HSBC Bank USA, NA, 2011 WL 3207776 (Court of Appeals of KY, 2011), the Court of Appeals of Kentucky reversed the trial court’s judgment as a matter of law that HSBC Bank USA, NA (“HSBC”) had standing … Continue reading →

February 21, 2013

Rhode Island Court Compares Case to Kriegal

In Chhun v. Mortgage Electronic Registration Systems, et al., C.A. No. PC 2011-4547, (R.I. Super. June 26, 2012), the plaintiff sought a declaration from the court to quiet title following a foreclosure sale.  The plaintiff claimed that the foreclosing party … Continue reading →

Rhode Island Superior Court Addresses Issues Payette Did Not

In Kriegel v. Mortgage Electronic Registration Systems, PC2010-7099 (R.I. Sup. October 13, 2011), the court granted the defendant’s motion to dismiss the plaintiff’s claim. The plaintiff sought a declaratory judgment and petition to quiet title for his property. The plaintiff … Continue reading →

February 19, 2013

Utah District Court Holds that Plaintiff’s TILA Claims Are Time-Barred and that MERS Does Not Need to Possess the Note in Order to Appoint a Trustee or Authorize a Trustee to Foreclose

In Rhodes v. Aurora Loan Services, No. 2:10 CV 00230 TC, 2010 WL 3219310 (D. Utah Aug. 13, 2010), the United States District Court of Utah granted Defendants’ motion to dismiss Plaintiff’s claims.   In October 2006, Plaintiff refinanced the … Continue reading →