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Superior Court Judge Delivers Point-by-Point Rejection of Plaintiff’s “Baseless” Legal Theories

FOR IMMEDIATE RELEASE
CONTACT: Jason Lobo
Phone: 703.652.1660
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Reston, Virginia, December 21, 2012— MERSCORP Holdings, Inc. today announced that Georgia Superior Court of Gwinnett County Judge R. Timothy Hamil recently upheld MERS’ role as grantee under the security deed, affirmed MERS’ ability to assign its interests under the security deed and rejected numerous legal theories presented by the borrower asserting fraud.

In pdf White v. Citibank, N.A. (50 KB) ,Judge Hamil held that “[t]here can be no dispute that under Plaintiff’s allegations and admissions, CitiMortgage had the authority to conduct the Foreclosure and did so in accordance with Georgia law, and Plaintiff’s allegations to the contrary are meritless.”

The borrower alleged, among many things, that the loan documents were defective and that the assignment of the security deed executed by MERS was faulty. He sought court relief preventing eviction.

Addressing MERS’ authority under the security deed, Judge Hamil held that “…Georgia law is clear that, as nominee of the originating lender, MERS had the ability and legal authority to transfer and assign the Security Deed.” He noted that “[a]t the time of the assignment, MERS had been designated to act in connection with the Security Deed, and pursuant to express terms of the Security Deed, MERS had the authority to assign the Security Deed.”

Judge Hamil also held that the borrower “lacks standing to challenge the assignment” because he was not a party to the contract and that the borrower has not “pointed to any law or other authority whatsoever in Georgia that would prevent employees of CitiMortgage, who are also ‘certifying officers’ of MERS, from executing the Assignment on behalf of MERS.”

“Judge Hamil’s ruling is clear that MERS’ role as grantee on security deeds and its authority to assign security deeds in Georgia is valid,” MERSCORP Holdings Director of Communications, Jason Lobo, said. “This decision is in line with the majority of courts across the country.”

For descriptions of cases and other materials pertaining to MERS’ business model and role in U.S. housing, please visit www.mersinc.org.

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MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System and all other MERS® products. It is a member-based organization made up of thousands of lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members.

Three-Justice Panel, Citing Prior-Court Opinion Affirms MERS’ Authority as Beneficiary

FOR IMMEDIATE RELEASE
CONTACT: Jason Lobo
Phone: 703.652.1660
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Reston, Virginia, December 21, 2012— MERSCORP Holdings, Inc. today announced that two recent opinions written by Nevada Supreme Court Justice Nancy M. Saitta affirmed trial court decisions holding that Mortgage Electronic Registration Systems, Inc. (MERS) is a valid beneficiary of deeds of trust in the state. Justices James W. Hardesty and Kristina Pickering also joined in each opinion.

In pdf Ashley v. MERS et al., (616 KB)  the three-justice panel relied on the Court’s decision in pdf Edelstein v. Bank of New York Mellon (1.44 MB)  to affirm judgment in favor of MERS and two other defendants. In his wrongful foreclosure complaint to the Eighth Judicial District Court of Clark County, the borrower alleged that, due to the involvement of MERS as the beneficiary of the subject deed of trust, the trustee’s foreclosure was fraudulent and should be voided. “This court has determined that MERS is a valid beneficiary of the deed of trust...” Justice Saitta wrote. “MERS, in its capacity as the beneficiary of the deed of trust, was capable of assigning its own interest in the deed of trust and to appoint a substitute trustee.”

In pdf Sanchez v. OneWest Bank, FSB, et al. (611 KB) , the same three-justice panel affirmed the trial court dismissal in favor of the defendants. Here, the borrowers filed a wrongful foreclosure complaint in Clark County District Court containing various allegations, including that MERS was not a proper beneficiary and therefore the defendants lacked standing to foreclose. In affirming the dismissal, Justice Saitta and her colleagues also relied upon Edelstein in holding that any severance in the note and deed of trust did not permanently bar foreclosure. The Court held that because OneWest possessed the note and deed of trust at the time the notice of default was issued, it had standing to foreclose.

“Hundreds of courts across the country have confirmed MERS’ role as a valid beneficiary and its authority to assign mortgages,” MERSCORP Holdings Director of Communications, Jason Lobo, said. “The Nevada Supreme Court’s reliance upon its own prior opinion to rule in favor of MERS emphasizes that MERS’ role as the beneficiary of the deed of trust has already been established by existing case law in Nevada, as is the case in states across the country.”

For descriptions of cases and other materials pertaining to MERS’ business model and role in U.S. housing, please visit www.mersinc.org.

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MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System and all other MERS® products. It is a member-based organization made up of thousands of lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members.

FOR IMMEDIATE RELEASE
CONTACT: Jason Lobo
Phone: 703.652.1660
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Reston, Virginia, December 19, 2012— MERSCORP Holdings, Inc. today announced that Justice William J. Giacomo of the New York State Supreme Court, Westchester County, recently ruled that BAC Home Loans Servicing, LP (BAC) had standing to foreclose as an assignee of a MERS mortgage and as the holder of the note.

In pdf BAC Home Loans Servicing, LP v. Martinez (233 KB) , the borrowers sought the dismissal of a foreclosure complaint filed by BAC on the grounds that it did not have standing to foreclose. The borrowers cited the pdf Bank of New York v Silverberg (2.52 MB)  appellate court decision, arguing that MERS did not have the authority to assign their mortgage to BAC because MERS did not possess the underlying note.

Justice Giacomo found the borrowers’ reliance on Silverberg to be misplaced for two reasons. First, MERS as mortgagee has the authority to assign its interest in the mortgage and the Silverberg decision did not rule otherwise. Second, the court in Silverberg found no evidence that the foreclosing plaintiff possessed the note prior to the commencement of foreclosure, while here in this case, the evidence showed that the note was delivered to BAC prior to the commencement of the foreclosure action.

Accordingly, Justice Giacomo found no merit to the borrowers’ claims that BAC did not have standing to foreclose because, as Justice Giacomo noted, MERS as mortgagee assigned the mortgage to BAC and the note was endorsed in blank and delivered to BAC making it both the mortgagee and note holder, which under New York law gives a party standing to foreclose.

“We are pleased with Justice Giacomo’s ruling, which corrects the borrowers’ misinterpretation of the Silverberg decision and recognizes MERS’ role as mortgagee with the authority to assign the mortgage,” MERSCORP Holdings Director of Communications, Jason Lobo, said.

For descriptions of cases and other materials pertaining to MERS’ business model and role in U.S. housing, please visit www.mersinc.org.

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MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System and all other MERS® products. It is a member-based organization made up of thousands of lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members.

FOR IMMEDIATE RELEASE
CONTACT: Jason Lobo
Phone: 703.652.1660
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Reston, Virginia, December 6, 2012—Below is a monthly summary of major legal decisions involving either the use of the MERS® System database or Mortgage Electronic Registration Systems, Inc. (MERS) and its role in the mortgage process. Please feel free to contact the MERSCORP Holdings, Inc. This email address is being protected from spambots. You need JavaScript enabled to view it. with any questions and visit the MERS Newsroom for a full list of news releases.

• Alabama – Connell v. CitiMortgage –  pdf Judgment for the Defendant (237 KB)
• Arizona – Henry v. Arizona Trust Deed Corporation –  pdf Judgment for the Defendant (44 KB)
• Florida – The Fidelity Land Trust Company v. Centex Home Equity Company –  pdf Judgment for the Defendant (182 KB)
• Idaho – Pfaeffle v. MERS – Judgment for the Defendant
• Idaho – Seward v. Fremont Investment & Loan –  pdf Judgment for the Defendant (272 KB)
• Massachusetts – Commonwealth of Massachusetts v. Bank of America – Counts against MERS Dismissed
• Michigan – Allemon v. Countrywide Home Loans –  pdf Judgment for the Defendant (391 KB)
• Michigan – Ethridge v. Countrywide Home Loans pdf Judgment for the Defendant (53 KB)
• Michigan – Jones v. Bank of America –  pdf Judgment for the Defendant (36 KB)
• Michigan – Minneweather v. Wells Fargo Bank –  pdf Judgment for the Defendant (40 KB)
• New Hampshire – Cabacoff v. Wells Fargo pdf Judgment for the Defendant (62 KB)
• New Hampshire – Giroux v. FNMA –  pdf Judgment for the Defendant (1.52 MB)
• New York – U.S. Bank National Association v. Madero –  pdf Judgment for the Plaintiff (129 KB)
• Ohio – Bank of America v. Bowers – Judgment for the Plaintiff
• Oregon – Delaney v. Bank of New York Mellon pdf Judgment for the Defendant (89 KB)
• Rhode Island – Equivest, LLC v. Alexander – Judgment for the Plaintiff
• Texas – Crum v. WMC Mortgage Corporation –  pdf Judgment for the Defendant (52 KB)
• Texas – Morlock LLC v. Bank of New York Mellon –  pdf Judgment for the Defendant (116 KB)

For descriptions of cases and other materials pertaining to MERS’ business model and role in U.S. housing, please visit www.mersinc.org.

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MERSCORP Holdings, Inc. is a privaely held corporation that owns and manages the MERS® System and all other MERS® products. It is a member-based organization made up of thousands of lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note. The MERS® System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members.

  • About Us

    About Us

    Today’s financial services industry depends on technological innovations to provide its customers with access to information, increased efficiency and reduced processing costs. MERSCORP Holdings, Inc. owns and operates the MERS® System, a national electronic registry system that tracks the changes in servicing rights and beneficial ownership interests in mortgage loans that are registered on the System.

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  • MERS® eRegistry

    MERS® eRegistry

    The MERS® eRegistry is essential to the eMortgage world. It is the legal system of record for identifying the Controller (holder) and Location (custodian) for the authoritative copy of a registered eNote. Lenders today are closing eNotes and selling them into the secondary market. Both Freddie Mac and Fannie Mae require that Lenders register their eNotes on the MERS® eRegistry.

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    Information for Homeowners

    Homeowners today want information about their mortgage loans. Some are facing financial hardship and are struggling with mortgage payments. Information and helpful resources are available. 

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    Title agents, government agencies and others looking for information about mortgage loans registered on the MERS® System can use Servicer ID or MERS® Link. This public access is often used by local municipalities to identify the servicer responsible for maintaining vacant or abandoned property.

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    The MERSCORP Holdings, Inc. Media Room provides press contact information and facts about the company and its subsidiary, Mortgage Electronic Registration Systems, Inc. (MERS). These materials are provided to help national, regional and local media better understand the companies' business model and role in the U.S. housing finance system.

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