Judge’s Ruling Blow to MERS

Tim O’Reiley of the Las Vegas Business Press wrote “U.S. Bankruptcy Court Judge Linda Riegle has ruled that the Mortgage Electronic
Registration System (MERS) could not represent lenders seeking to foreclose on
delinquent homeowners already in bankruptcy unless it could produce the actual
loan note.”
What does this mean? At its most basic, it means that MERS must show that they have the actual loan note if MERS plans on foreclosing. However, the ruling is a trial level court ruling. MERS points out in the article that they have lost this argument before but won on appeal.
The key to this is going to [...]

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