TITLE

Michigan Court Rules Against MERS

AUTHOR(S)
Kilgore, Austin
PUB. DATE
June 2011
SOURCE
Mortgage Servicing News;Jun2011, Vol. 15 Issue 6, p29
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the Michigan Court of Appeals ruled against Mortgage Electronic Registration Systems Inc. (MERS) in the use of the state's nonjudicial foreclosure process. In the two 2009 cases, the court ruled that MERS could not enforce a defaulted promissory note since Michigan law requires the foreclosing entity to be the owner of the indebtedness. The court also added that the lender's equitable interest in the mortgage could not be translated into an equitable interest for MERS.
ACCESSION #
60906703

 

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