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Another one bites the dust: MERS wins again

That is more bad news for homeowners in California. The State Courts in California have almost uniformly rejected all challenges to MERS that have been raised.

Justice League

California Third Appellate District Court affirms MERS’ rights to assign a mortgage

MERSCORP Holdings announced Monday that it secured another victory over a homeowner who challenged its authority to assign a mortgage.

MERS, parent of the electronic mortgage registry with the same name, had its authority upheld this time by the Court of Appeal of California for the Third Appellate District, which heard a lawsuit brought against MERS and Bank of America (BAC) by homeowners claiming wrongful foreclosure.

In Boyle vs. Bank of America, the homeowners sued Bank of America and MERS for fraud and wrongful foreclosure, claiming that the MERS deed of trust was invalid because MERS lacked any interest in the promissory note, which rendered the MERS deed of trust and assignment of the deed of trust to Bank of America ineffective.

The homeowners alleged that Bank of America’s attempts to foreclose on the property were…

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One Response

  1. Unfortunately, it is very differcult to challenge MERS assignments especially if the homeowner’s loan is with Bank of America. Many of the MERS and BofA lawsuits fought in California were originated from Countrywide. And mostly all of Countrywide loans were MERS assignments. California needs to rewrite financial laws that are current today because most of the mortgages today are being sold to Wall Street. And the mortgage and note are separated from one another. No one is writing laws on a securitized trust loans where much of the loans sold on Wall Street are sold either in the state of NY or Delaware. I hope the next CA AG (that if Kamala Harris is elected as the next Senator) work with the NY AG and Delaware AG to create a law in CA that focuses on securitized trust loans to protect homeowners in the state.


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