September 13, 2013
United States District Court, Eastern District of Arkansas Dismisses Borrower’s Claim of Invalid Assignment
The United States District Court, Eastern District of Arkansas in Kimberly Peace v. MERS, 4:09-cv-00966 (2010) granted MERS’ motion to dismiss. The court found that the assignment to MERS was valid.
This also led the court to decide that BAC had standing to appoint Recon Trust as BAC’s agent to exercise its right to start a non-judicial foreclosure. The borrower unsuccessfully alleged that the assignment from MERS to BAC had no legal effect as MERS was not on the note and was not an agent for the note holder. The court rejected this contention.| Permalink