CA Court Rules MERS has Standing to Foreclose

Posted on February 25, 2011

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A California Appeals Court ruled that MERS does have the right to foreclose on a property after all. This decision is in direct contrast to other decisions made by other courts in other states.

The MERS issue is very recent in foreclosure defense law. The validity of the MERS business model has been under sustained legal attack. The MERS Corp. has felt the pain of it, too. A few days ago they made a public announcement that lawsuits foreclosing on properties should not have the MERS name on them. As if that’s going to change anything. When you bill yourself as the repository of mortgage notes and then you misplace them, there are other, bigger things you need to worry about. Like the disintegration of MERS Corp.

See other blog posts on this blog to reference the NY court decision that declared MERS to have no standing to foreclose or transfer mortgage notes. That’s their whole business model. I generally don’t bet on stocks, mostly because I think it is a corrupt insiders game, but I can confidently predict that MERS is going to tank and go belly-up in the next few years.

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