Court Ruling Upholds Foreclosure Sale Despite MERS’ Appeal

Breaking News (1.7.11): Mass. Supreme Court Upholds Ibanez Ruling, Thousands of Foreclosures Affected Click Here For Our Entire Series Of Post On the Ibanez Case. Update (2/25/10)-Mass. High Court May Take Ibanez Case Today, Massachusetts Land Court Judge Keith Long reaffirmed his controversial ruling made back in March 2009 that invalidated foreclosure proceedings involving two Springfield.

In a recent decision rendered by the Maryland Court of Special Appeals (Anderson v. Burson, et al., No. 00434, Sept. Term, 2009, full case here), the Court upheld the rights of the foreclosing bank to foreclose on a property in Howard County, Maryland, finding that the Bank was a proper successor to the holder of the mortgage note and had the same rights as the original holder to enforce.

MERS’ authority to assign mortgages has been upheld by courts across the country, despite repeated challenges by borrowers. Just in the past year, the Sixth Circuit Court of Appeals upheld MERS’ authority to assign a mortgage in Margelis v.

A New York state appeals court overturned a ruling in favor of the Mortgage Electronic Registration Systems, finding Bank of New York did not have standing to initiate a foreclosure. The June 7 decision, issued by the Supreme Court of the State Of New York Appellate Division, reversed the lower court’s ruling and granted the borrower’s.

Washington Supreme Court: MERS cannot obtain foreclosure power without note 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.HOPE NOW: Mortgage industry achieves 24M solutions and 6M loan mods HOPE NOW: Mortgage mods for 7 million homeowners since 2007 – A total of 7.02 million American homeowners have now received loan modifications since HOPE NOW started tracking loan mods. reporting mortgage solution data. This milestone was achieved through a.

Despite the objection. and the confirmation of sale was upheld. While neither of these cases ultimately resulted in unconfirmed sales, district courts in Kansas appear to be taking note of the.

In the 1930s, a total of 28 states enacted foreclosure moratoria and a 1934 Supreme Court decision upheld such laws provided that. The fact is that despite all of the bad press, MERS (done.

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Last, the Court found that no offset could lie for lost rent despite the borrower having given over the keys, because the bank was not a mortgagee-in-possession. This decision should. default and.

MERS appealed to the Court of Appeals, which affirmed the trial court’s decision for a slightly different reason, holding that MERS. court ruling upholds foreclosure Sale Despite MERS’ Appeal 1 in 5 mortgages drowning Scalable subservicing technology fuels LoanCare’s growth She then restructured the company’s internal technologies to.

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