REFinBlog

August 8, 2013

Bankruptcy Court Rules MERS Has Standing and the Customary Rights of a Mortgagee Under a Mass. Mortgage and May Act Under the Mortgage

The Massachusetts bankruptcy court hearing In re Sonya D. Huggins f/k/a SONYA D. HICKS, Debtor Chapter 13, Case No. 05-18826-RS overruled the Huggins’ objection to the standing of the nominee to seek relief from the automatic stay and ordered an … Continue reading →

August 5, 2013

U.S. District Court for the Eastern District of Texas Rules in Favor of MERS in Foreclosure Proceeding, Upholding its Power of Sale Over the Plaintiff’s Property

In Richardson v. Citimortgage, No. 6:10cv119, 2010 WL 4818556, at 1-6 (E.D. Tex. November 22, 2010) the U.S. District Court for the Eastern District of Texas, Tyler Division, granted the Defendants’, Citimortgage and MERS, motion for summary judgment against the Plaintiff, Richardson, … Continue reading →

August 1, 2013

A REMIC Unraveling?

An unpublished opinion, Glaski v. Bank of America, No. F064556 (7/31/13, Cal. 5th App. Dist.), presents one possible future for REMICs that failed to comply with the strict rules set for them by Congress and the IRS. Glaski, a homeowner, … Continue reading →

Nevada Supreme Court Holds a Bank’s Mere Possession of the Note and Deed of Trust is not Sufficient to Create an “Enforceable Interest”

In Leyva v. Nat’l Default Servicing Corp., 255 P.3d 1275 (Nev. 2011) the court found in favor of Leyva that mere possession of the mortgage note does not create an “enforceable interest in the property subject of the mediation.”  The … Continue reading →

Nevada Supreme Court Holds Sanctions are Proper in Foreclosure Mediation when Bank Fails to Provide Either Documents Required by Statute or an Adequate Representative

In Pasillas v. HSBC Bank USA, 255 P.3d 1281 (Nev. 2011), the court held sanctions are appropriate  when a bank 1) fails to provide documents required by statute at a mediation session or 2) fails to send a representative with … Continue reading →

Arkansas Court Rules That MERS Did Not Violate the State’s Statutory Foreclosure Act

The court in Coley et al v. Accredited Home Lenders Inc et al (E.D. Ark. 2011) dismissed the homeowner-plaintiff’s claims against MERS pursuant to Federal Rules of Civil Procedure 12(b)(6). In granting MERS’ motion to dismiss the court considered, then … Continue reading →

July 31, 2013

Court Holds That MERS Assignment, in Isolation, Could Not Prove Ownership

The court deciding In Re Wilhelm (Case No. 06-51747) was faced with the issue of when actual notes prove that the note’s chain of ownership is unclear. In reaching their decision the court found that in such a situation, the … Continue reading →