Closing Complex Loans Faster With a Digitized Client Workflow

Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster. event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

The digital journey starts at acquisition

Download this white paper to learn how to build a tech-enabled acquisition strategy that will directly contribute to a lender’s ability to maximize profitability and remain competitive.

Politics & Money

Massachusetts Court of Appeals rules for MERS

MERS assignment, role as mortgagee is valid

MERSCORP Holdings, Inc. today announced that the Massachusetts Court of Appeals ruled that MERS is a valid mortgagee that can hold legal title to the mortgage with the right to assign its interest in the mortgage.

 In Farmer v. Federal National Mortgage Association, the borrower sought to invalidate a completed foreclosure.

The trial court found that the foreclosing lender was not a valid mortgagee because the MERS assignment was void because MERS did not have authority from the original lender to assign the mortgage.   

“As mortgagee holding legal title to the mortgage, MERS has authority to act—including the right to assign its interest in the mortgage—and this authority has repeatedly been confirmed by the Massachusetts Courts,” said MERSCORP Holdings Vice President for Corporate Communications, Janis Smith.

In its ruling, the Court of Appeals found that the borrower’s claim as to the validity of the MERS assignment lacked any merit and it vacated the trial court’s decision because, “The assignment from MERS, mortgagee solely as nominee for lender and lender’s successors and assigns, to Countrywide was valid for reasons discussed in Shea v. Federal Natl. Mort. Assn.”  

The Shea court ruled that MERS is a valid mortgagee who holds legal title to the mortgage with the right to assign its interest in the mortgage to a third party. 

Most Popular Articles

Fannie Mae, and the housing market’s inflation problem

Another month of steadily increasing home prices and insatiable demand led Fannie Mae’s Economic and Strategic Research Group to alter many of its 2021 predictions – in particular, its outlook on the symbiotic relationship between the housing market and inflation measures.

Jun 16, 2021 By

Latest Articles

Doug Duncan and the housing market’s supply conundrum

The housing market has suffered due to high material prices, spend-anything buyers & a lack of supply. A return to normalcy will require big changes. HW+ Premium Content

Jun 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please