Are record-low interest rates masking high-cost mortgage lending?

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
W S
Servicing / The Ticker

Ninth Circuit ruling favors MERS

/ Print / Reprints /
| Share More
/ Text Size+

The Mortgage Electronic Registration Systems, and its parent company MERSCORP, received a favorable court ruling from the U.S. Court of Appeals for the Ninth Circuit, which affirmed a lower court’s acceptance of MERS as a nominee for the lender.

The case, like many others against MERS, revolved around the issue of whether MERS had the authority to assign a mortgage to a foreclosing lender.  

The court essentially upheld a lower court’s decision which said allegations that MERS lacks the authority to assign a right to foreclose and sell the property based on its "nominee status" alone cannot stand when based on other precedential cases in the jurisdiction.

"We are pleased that Judge Ezra found no merit to these charges and that the appellate panel agreed with his methodical rejection of these frequently used and always failing legal arguments,” said MERSCORP Holdings' director for corporate communications Jason Lobo.

 

Recent Articles by HousingWire Staff

Comments powered by Disqus