NY appellate court scrutinizes the MERS standing issue

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MEMORANDUM OPINION AND ORDER. VIRGINIA M. KENDALL, District Judge. Plaintiff Bank of New York Mellon Trust Company, National Association, as grantor trustee of the Protium Master Grantor Trust (the "Bank of NY"), brought suit against Defendants Jack and Patricia Rangel (the "Defendants") to foreclose a Mortgage on the Defendants’ residential property.

In a concurring opinion, judge carmen beauchamp ciparick specified that the issue of whether MERS has standing to prosecute a foreclosure action remained for another day (id. at 100). In a dissent, former Chief Judge Judith S. Kaye posited that the MERS system raised several concerns, including the elimination of the public records which document mortgage loan ownership ( id. at 100-105).

leading to conflicting rulings from courts deciding challenges to MERS’ standing in foreclosures. For example, in the same week of February, federal bankruptcy judges in Kansas and New York issued.

A. The Bank of New York Lacks Standing to Foreclose1. Preservation {14} As a preliminary matter, we address the Bank of New York’s argument that the Romeros waived their challenge of the Bank’s standing in this Court and the Court of Appeals by failing to provide the evidentiary support required by Rule 12-213(A)(3) NMRA.

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Accordingly, the Supreme Court should have granted the defendants’ motion pursuant to CPLR 3211(a) (3) to dismiss the complaint insofar as asserted against them for lack of standing" Wow, a NY Civil appellate court just tossed MERS on Standing.

1032 (2d Dept 2011), there is no appellate court decision holding said assignments to be invalid. Similarly, there is no binding decision holding that assignments by the employees of the assignee, who happen to be signatories of MERS, are invalid. Therefore, MERS is a “red flag” that a standing issue may exist, but it is

239 App Div 799, 800 [1933], affd 262 NY 650 [1933]; Mullins v Franz, 162 App Div at 318; see generally Geddes Federal Sav. & Loan Ass’n v Ferrante, 226 AD2d at 1099). Accordingly, Supreme Court erred in finding that defendant had standing to bring the eviction.

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“The states have not manufactured standing” to file the lawsuit, he said, but have a “personal stake” in the matter. The arguments were heard by three judges selected at random from the 5th Circuit.