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Appeals Court Clarifies MERS Role in Foreclosures. The ubiquitous Mortgage electronic registration systems, nominal holder of millions of mortgages, does not have the right to foreclose on a mortgage in default or assign that right to anyone else if it does not hold the underlying promissory note, the Appellate Division, Second Department, ruled Friday.
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Michigan: Court of Appeals Rules Against MERS. The Michigan Court of Appeals determined that a party "must have a legal share, title, or right in the note" in order to own an interest in the indebtedness – rejecting the plaintiffs’ assertion that an ownership interest in the mortgage was sufficient.
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victory in the supreme court of oregon: mers is not the "beneficiary" for purposes of the oregon trust deed act; affirms court of appeals decision and summary judgment remains reversed Posted on June 7, 2013 by Jeff Barnes
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At the federal level. for the Supreme Court to issue a ruling on a matter. Binding precedent can also be achieved at a. MERS Loses Major Case in Pennsylvania. One of the big reasons that MERS has taken comparatively few losses in court is that it has often settled cases where it looked like it might lose.