REFinBlog

December 24, 2012

District Court of Arizona finds homeowners do not have standing to challenge validity of assignments of deed of trust

In Campbell v. California Reconveyance Co., CV-11-00180-PHX-DGC, 2012 WL 5299099 (D. Ariz. Oct. 25, 2012), the court denied plaintiffs/homeowners, David & Marie Campbells’ motion for summary judgment, finding they lacked standing. In July, 2006, plaintiffs received a loan from First … Continue reading →

December 20, 2012

9th Circuit Affirms Dismissal of Homeowner’s Challenges to Non-judicial Foreclosure in Arizona

In Buchna v. Bank of Am., NA, 478 F. App’x 425 (9th Cir. 2012), the court affirmed the District Court of Arizona’s dismissal of plaintiffs/homeowners Mariusz and Julita Buchna’s action against Bank of America, MERS, and Bank of New York Melon … Continue reading →

December 10, 2012

MERS Must Possess Note or Have Authority to Act on Behalf of Note Holder in Order to Foreclose, According to Massachusetts Supreme Court

In Eaton v Federal National Mortgage Association, 462 Mass. 569 (Mass. 2012), the Supreme Judicial Court of Massachusetts addressed “the propriety of a foreclosure by power of sale undertaken by a mortgage holder that did not hold the underlying mortgage … 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 →

Massachusetts Supreme Judicial Court Holds that without a Recordable Assignments, MERS has no Standing

In US Bank National Ass’n v. Ibanez , 2009 WL 3297551, (MA S. Judicial Ct, 2011), the court held that a party lacks standing to foreclose when it holds a mortgage note endorsed in blank and an assignment of the … 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 →

Kansas Supreme Court Holds that Non-lenders Like MERS Lack Standing to Intervene in Foreclosure Actions

In Landmark Nat’l Bank v. Kesler , 216 P. 3d 158 (KS S. Ct., 2009) MERS appealed a lower court decision that held that a non-lender like MERS is not a contingently necessary party in a mortgage foreclosure action. On … Continue reading →