April 9, 2013
U.S. Bankruptcy Court of Western District Missouri Holds that Agency Relationship created when MERS is Designated as a Nominee
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
April 9, 2013 in Downstream litigation by state | Permalink | No Comments
Massachusetts Appellate Court Upholds MERS’ Authority to Assign Mortgage
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
April 9, 2013 in Downstream litigation by state | Permalink | No Comments
No News to Report on Preemption
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
April 9, 2013 in Downstream litigation by state | Permalink | No Comments
April 8, 2013
Rule of Law Cuts Both Ways
The New York Appellate Division (2d Dep’t) reversed orders by Justice Schack of New York Supreme Court (Kings County) in HSBC Bank USA, N.A. v. Taher. Justice Schack became something of a folk hero to many for holding lenders’ feet … Continue reading
April 8, 2013 in Downstream litigation by state | Permalink | No Comments
April 7, 2013
Michigan District Court Dismisses Homeowner’s Action to Declare Foreclosure Null and Void
In Olesuk v Fed. Natl. Mort. Assoc., 2:12-cv-11001 (Dist. Ct. Mich. 2012), the court dismissed an action by homeowners against the parties involved in the multiple assignments of their mortgage, including MERS (Defendants). Homeowners brought the action after defaulting on … Continue reading
April 7, 2013 in Downstream litigation by state | Permalink | No Comments
District Court for the Northern District of Illinois Finds No Wrongdoing in MERS’s Assignment & Deutsche Bank’s Ensuing Foreclosure
In Long v. One West Bank, No. 11 C 703 (N.D. Ill. 2011), the District Court for the Northern District of Illinois denied OneWest Bank, MERS & Deutsche Bank’s motion to dismiss in part as moot, and granted the motion … Continue reading
April 7, 2013 in Downstream litigation by state | Permalink | No Comments
The Michigan Eastern District Court Grants MERS and other Defendants’ Motion to Dismiss Because Homeowners Failed to State a Claim
In Safford v. Precision Funding, 09-14925-BC, 2010 WL 548504 (E.D. Mich. Feb. 9, 2010), the court granted Defendants’ motion to dismiss. In August 2004, Jeffrey Safford and Denise Safford purchased their home and obtained a fixed rate mortgage loan for … Continue reading
April 7, 2013 in Downstream litigation by state | Permalink | No Comments
