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Washington Supreme Court: MERS cannot obtain foreclosure power without note

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Major Oregon Supreme Court ruling undermines MERS, but leaves registry room to challenge. Without this agency relationship or status as the trust deed beneficiary, MERS’ ability to assign foreclosing power is virtually shot down, making this a landmark decision in a state where this pending appeal alone made financial firms weary of nonjudicial foreclosures.

A recent decision by the California Court of Appeal. demurrer without leave to amend. At the lower court, plaintiff attempted to plead a cause of action for wrongful foreclosure by alleging that.

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As concerns the last point (conformance to any restrictions established pursuant to land and other legislation), it is important to note that this particular wording is needlessly vague. In this.

Washington Supreme Court holds MERS cannot initiate private deed of trust foreclosures. courts that have held that MERS is not actually the beneficiary of the note and thus has no power to initiate a nonjudicial foreclosure.

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Only promissory note holders can initiate foreclosures in Washington state. Simply put, if MERS does not hold the note, it is not a lawful beneficiary.". The court reasoned that the deed of trust act must be construed in favor of borrowers since it provides an easy mechanism for foreclosure, without judicial oversight.

homeowners who already cannot make their mortgage payments. Courts.. power over the foreclosure process and that the duty of the trustee must be. Washington Supreme Court, having accepted a certified question66 as to. Whitehead, the court did not find that the VA indemnity right was “second.

2 Mr. Merry argues that recent decisions of the Washington Supreme Court and.. 21 In obtaining a loan, a borrower, as “grantor,” may execute a deed of trust to.. “These are limits on the trustee's power to foreclose without judicial supervision.. MERS does not hold the promissory notes given to and generally resold by.

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