loanDepot officially files for IPO

loanDepot officially files for IPO

Number of shares, price range to be determined

Did Sen. Corker violate SEC rules, Senate ethics by telling investors to short GSEs?

Made questionable remarks on CNBC regarding stocks

House passes bipartisan TRID grace period bill 303-121

Next comes Senate, then looming threat of veto from White House
Lending / The Ticker

Idaho Supreme Court decision gives MERS court win

The Trotter v. Bank of New York Mellon case out of Idaho's Supreme Court set a precedent in January that helped the Mortgage Electronic Registration Systems obtain the dismissal of a foreclosure case this past week.

Judge Lynn Norton of the Elmore County District Court in Idaho ruled in favor of MERS and Fannie Mae holding that MERS in fact can serve as an agent of a lender and appoint successor trustees while maintaining the power to foreclosure.

The case – Fannie Mae v. Lopez – involved a party subject to a foreclosure who claimed MERS had no authority to foreclose on the property. Yet, the district court ruled for MERS, citing the Idaho Supreme Court's Trotter decision.

Under the umbrella of Trotter, the court held that a foreclosure initiation is okay if done through a beneficiary nominee such as MERS.

Recent Articles by HousingWire Staff

Comments powered by Disqus