December 6, 2012
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 mortgage endorsed in blank, but not a recordable assignment. The case involved three separate foreclosure sales in Springfield, Massachusetts. Massachusetts law provides for non-judicial foreclosure by advertisement. In all three foreclosure actions, the foreclosing party advertised the foreclosure sale in the Boston Globe rather than a local Springfield paper. All three plaintiffs brought actions in Land Court to “remove a cloud from the title” of the properties.
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