Tuesday, June 15, 2010

LOOKING FOR A FORECLOSURE DEFENSE? CHECK YOUR ASSIGNMENT FOR FRAUD!

MERS
||||
Newsroom|About Us|Events|Why MERS?|Knowledge Base|Careers
     Tools & Services
 Downloads
 Member Directory
 Foreclosures
 Enhancements
 Forum
 Advertising
 Payment Options
 MERS for
 Homeowners
 Property  Preservation
 Contacts
Contact Us
Become a Member
FORECLOSURES

Mortgage Electronic Registration Systems, Inc. (“MERS”) is a
proper party that can lawfully foreclose as the mortgagee and
note-holder of a mortgage loan. MERS Membership Rule 8
provides required guidelines that must be followed when
MERS is the foreclosing entity. Pleaseclick here to access
the Rules of Membership, and reference the Rule 8 requirements.

In mortgage foreclosure cases, the plaintiff has standing as the
holder of the note and the mortgage. When MERS forecloses,
MERS is the mortgagee and it is the holder of the note
because a MERS officer will be in possession of the
original note endorsed in blank, which makes MERS a holder
of the bearer paper. MERS will not foreclose unless the note is
endorsed in blank and held by MERS.

The MERS Legal Primer provides a sampling of cases
that address the standing of MERS to foreclose its mortgages.
These cases are not meant to be an exhaustive list involving
MERS but are merely to serve as a primer for the legal arguments.


BANKRUPTCY

MERS may file Motions for Relief from Stay and Proofs of
Claim related to mortgages that it holds. Each MERS member,
through its duly appointed MERS officer(s), is responsible to
ensure that pleadings on behalf of MERS in bankruptcy court
properly describe MERS.   The MERSofficer(s) must also ensure
that all necessary proof is attached to the pleadings to show MERS
has standing at the time the pleading is filed.
Please click here to reference MERS requirements.



Member Search
Four types of searches are accommodated.
They are described below:
By Organization IDEnter a 7 digit Organization ID.
By Company NameEnter at least the first 4 letters of the
company name.
By Specific Alphabet LetterEnter an alphabet letter from A to Z
and a company list will be generated for the specified letter.
ALL Company NamesPress submit and a company list will
be generated alphabetically from A to Z.

      



No comments:

Post a Comment