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Newport Beach, CA (Vocus/PRWEB) February 23, 2011 A recent verdict by a New York Judge that Mortgage Electronic Registration Systems, Inc. (MERS) does not have the right to file foreclosures on behalf of lenders is a victory for homeowners facing foreclosure throughout the nation that will have far reaching impact, according to Vito Torchia, Jr. managing attorney of Brookstone Law.
· The latest of these court decisions came down in California on May 20, 2010, in a bankruptcy case called In re Walker, Case no. 10-21656-E-11. The court held that MERS could not foreclose because it was a mere nominee; and that as a result, plaintiff Citibank could not collect on its claim. The judge opined:
phylogenetic methods and simulations to show that MERS-CoV. CoV) (Zaki et al., 2012), a recent zoonotic infection with a relatively high case fatality ratio. Linkage disequilibrium (LD) decay (Meunier and Eyre-Walker, 2001). Cauchemez S, Fraser C, Van Kerkhove MD, Donnelly CA, Riley S,
and Recommendations on Mortgage Foreclosure Cases, http://www. floridasupremecourt. Beckus, Fla. Foreclosure Law., MERS Role in the Foreclosure Epidemic and Lack of.. 2007); In re Walker, Case No.. 09-CA- 055758). 223.
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Everyone operates in good faith, then out of nowhere, someone shows up waving a piece of paper. The MERS system, while not explicitly named, is clearly the culprit of the chaos. 2009 In Re: Walker, Case No. 10-21656-E-11 – Eastern District of CA Bankruptcy court rules MERS has NO actionable interest in title.
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The United States Bankruptcy Court for the Eastern District of California has issued a ruling dated May 20, 2010 in the matter of In Re: Walker, Case No. 10-21656-E-11 which found that MERS could not, as a matter of law, have transferred the note to Citibank from the original lender, Bayrock Mortgage Corp.