REFinBlog

February 28, 2013

Utah District Court Holds that MERS Is Authorized to Begin Non-Judicial Foreclosure Despite the Lender’s Sale of the Loan

In King v. American Mortgage Network, Inc., No. 1:09 CV 162 DAK, 2010 WL 3516475 (D. Utah Sept. 2, 2010), the United States District Court of Utah held that MERS and Chase Home Finance (“Chase”) were authorized to begin non-judicial … Continue reading →

Utah District Court Holds that MERS Has the Authority to Initiate Non-Judicial Foreclosure and to Assign Interest to Another Party

In Schmitt v. Stearns Lending, Inc., No. 2:11 CV 00381 DS, 2011 WL 3861609 (D. Utah Aug. 31, 2011), the United States District Court of Utah held that MERS has the authority to initiate non-judicial foreclosure on a property and … Continue reading →

February 26, 2013

D.C. District Court Rules Bank Has Standing in Foreclosure Case

In McCarter v. Bank of New York, 873 F. Supp. 2d 246 (D.D.C. 2012), Plaintiff Homeowner was issued a mortgage loan of $270,000 which was reduced to a Deed of Trust and Promissory Note. Plaintiff then applied for a loan … Continue reading →

February 25, 2013

Michigan Court of Appeals Holds that Bank has Standing to Foreclose on Mortgaged Property Because the Bank was Validly Assigned Property Owners’ Mortgage and thus was the Record Holder of the Mortgage

In Hargrow v. Wells Fargo Bank N.A., 491 F. App’x 534 (6th Cir. 2012), the United States Court of Appeals in Michigan held that Wells Fargo Bank had standing to foreclose upon the mortgaged property. Mary and M.L. Hargrow bought … Continue reading →

Massachusetts District Court Holds that MERS, as Mortgagee and Nominee for Lender, has Authority to Assign Mortgage

The court in Rosa v. Mortg. Elec. Sys., Inc., 821 F. Supp. 2d 423 (D. Mass. 2011) held that the assignee bank had standing to foreclose on the homeowners. The homeowners argued that the bank did not have standing because … Continue reading →

February 24, 2013

The California Court of Appeal holds that MERS may Foreclose on Homeowner’s Property Because an Assignee does not Have to Record an Assignment when the Power of Sale is Conferred in a Deed of Trust Rather than a Mortgage

In Calvo v. HSBC Bank USA, N.A., 199 Cal. App. 4th 118, 130 Cal. Rptr. 3d 815 (2011), the California Court of Appeal held that MERS had the statutory right to foreclose on behalf of lender’s assignee because an assignee … Continue reading →

Ohio Court of Appeals Holds that the Note Follows the Mortgage Where Intent of Parties is Clear

In Bank of New York v. Dobbs, 2009-Ohio-4742, the court found that the Bank of New York (Bank) had standing to bring a foreclosure action against the homeowners. In this case, Countrywide Home Loans (Countrywide) was the original note holder, … Continue reading →