REFinBlog

January 9, 2013

New York Supreme Court Holds that Assignee Banks Must Produce Evidence of MERS’s Authority to Assign in Order to Have Standing to Foreclose

The New York Supreme Court of Kings County in Bank of New York v. Alderazi, 28 Misc. 3d 376 (Sup. Ct. 2010) held that a foreclosing bank, as assignee, does not have standing to bring a foreclosure action if it … Continue reading →

January 8, 2013

The Appellate Division of New York State Supreme Court Holds that Assignee Lenders Must Produce Evidence of MERS’s Authority to Assign Mortgage Notes to Lawfully Conduct a Non-Judicial Foreclosure

The New York State Supreme Court, Appellate Division, Second Department in Aurora Loan Services v Weisblum, 923 N.Y.S.2d 609 (App. Div. 2011) held that a mortgage lender does not have standing to foreclose if it cannot establish its lawful status … Continue reading →

December 6, 2012

New York Supreme Court Holds that MERS Does Not Have Standing to Foreclose if it Does Not Own Both Note and Mortgage

In LaSalle Bank Nat’l Ass’n v. Lamy, 824 N.Y.S.2d 769 (NY S. Ct., 2006), the court held that MERS did not have standing to foreclose because it did not own the note and mortgage. Court reasoned that “well established case authorities … Continue reading →

New York Supreme Court Holds that County Clerks Have a Statutory Duty to Record and Index Mortgages

In Merscorp, Inc. v. Romaine, 861 N.E.2d 8 (NY S. Ct., 2002), court had to decide whether the Suffolk County Clerk  was compelled to record and index mortgages, assignments of mortgage and discharges of mortgage, which name MERS as the lender’s … Continue reading →

November 9, 2012

New York County Court Dismisses Banks Foreclosure Action

In US Bank National Association v. Combs, No.8481 (NYSC Queens Oct. 2, 2012), the court dismissed plaintiff bank”s foreclosure action because a plaintiff in foreclosure action in New York must be both the holder or assignee of the subject mortgage … Continue reading →