Washington Supreme Court: MERS cannot obtain foreclosure power without note

The statutory language and our precedent both establish that under chapter 580 a promissory note assignment by MERS members does not have to be recorded before MERS can commence a foreclosure by advertisement, therefore our response to the federal court’s certified question must be no. Certified question answered in the negative.

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The court found that MERS had no power as an agent to assign the mortgage under its rules, its membership agreement, or the terms of the mortgage itself.

Some state courts have, in fact, declared MERS illegal. or at least without power to foreclose on property. Harper’s notes : After the housing market collapsed, however, MERS found itself under attack in courts across the country.

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(MERS), when it has been expressly ruled that (MERS) cannot transfer any beneficial interest, or any interest, because it has no interest in the deed of trust and Note to transfer to begin with? 4. Does King County Superior Court have any authority to state that there is not any recognized "land Patent" that is recognized in law that applies to

In 2012, the ohio supreme court held that a party who does not possess a properly indorsed promissory note at the time the foreclosure proceeding is begun lacks standing, and is not the real party in interest, and that these defects cannot be cured by transfers and indorsements made after the complaint has been filed; see Federal Home Loan.

 · The statutory language and our precedent both establish that under chapter 580 a promissory note assignment by MERS members does not have to be recorded before MERS can commence a foreclosure by advertisement, therefore our response to the federal court’s certified question must be no. Certified question answered in the negative.

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This was an action brought by the grantor of a deed of trust to stop nonjudicial foreclosure proceedings based upon the contention that MERS, the Mortgage Electronic Registration Systems, which was the named beneficiary as nominee for the lender, could not legally act as the beneficiary. The defendants moved to dismiss this action on the ground that the complaint did not state a claim upon.