MERSCORP Holdings, Inc. June 2013 News Summary
Reston, Virginia – July 1, 2013 – (RealEstateRama) — 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 ">Communications Office at MERSCORP Holdings, Inc. with any questions and visit the MERS Newsroomfor a full list of news releases.
- MERS’ Core Functions Unaffected by Oregon Supreme Court Rulings
“Ruling in Brandrup v. Recontrust Company, N.A and Niday v. GMAC Mortgage, LLC., the Court said, ‘if it can be shown that the original lenders and their successors conferred sufficient authority on MERS, to act on their behalves in the necessary respects, MERS may have the authority, as the true beneficiary’s agent, to hold and transfer interests in the trust deed.’ We are confident that we have and can prove such authority.”
Other Relevant Cases
- Delaware – Branch Banking & Trust Company v. Eid – Judgment for the Plaintiff
- Georgia – Annen v. Bank of America – Judgement for the Defendant
- Georgia – L.D. Mathis v. Cenlar FSB – Judgement for the Defendant
- Michigan – Evangelist v. Green Tree Servicing, Inc. – Judgment for the Defendant
- Michigan – Jagos v. MERS – Judgment for the Defendant
- Oregon – Mikityuk v. Northwest Trustee Services, Inc. – Judgment for the Defendant
- Washington – Nixon v. Regional Trustee Services – Judgment for the Defendant
For descriptions of cases and other materials pertaining to MERS’ business model and role in U.S. housing, please visit www.mersinc.org.
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.