Washington Supreme Court: MERS cannot obtain foreclosure power without note

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After they defaulted on the loan, Green Tree Servicing initiated foreclosure proceedings. the Sixth Circuit acknowledged Congress’s power to define injuries, the Court held that it cannot do so.

What happens after a foreclosure case is dismissed because of a lost note or other paperwork depends on each foreclosure. Generally, foreclosure cases are dismissed either with or without.

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The trial court held that no taking occurred from the closing of Dowdle Mountain Road, as this was an exercise of the state’s police power. set out in the statute, without the need to find a.

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The Appeals Court has now reaffirmed its holdings that the MERS model comports with Massachusetts law, that a mortgagee is not required to have any interest in the underlying note prior to foreclosure, and that a mortgagee requires no authorization from the noteholder to assign the mortgage to another party.

In Bain, the Washington State Supreme Court held that MERS cannot be a lawful beneficiary of a deed of trust if the registry lacks real possession of a promissory note. The case was considered a.

This opinion . . . serves as a legal basis to challenge any foreclosure in California based on a MERS assignment; to seek to void any MERS assignment of the Deed of Trust or the note to a third party for purposes of foreclosure; and should be sufficient for a borrower to not only obtain a TRO [temporary restraining order] against a Trustee’s.

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1. Mers cannot be the beneficiary without holding the note. That decision is not terribly surprising. 2. The court did not answer the question of the legal effect of MERS acting as beneficiary. That is extremely disappointing, but most likely due to the case having come up from the US District Court as a certified question to the Supreme Court.