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To: NVDave
"Why they’d persist in trying to bring a foreclosure action in some states after admitting in other states that they have no power to do so baffles me."

The greater issue is MERS' lack of standing to assign anything - it holds nothing, is an empty box. That's where the courts are heading - MERS' creation was/is/and always will be a huge FUBAR for the mortgage industry.

17 posted on 05/03/2011 9:14:44 AM PDT by azhenfud (The government is not best which secures life and property-there is a more valuable thing-manhood.)
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To: azhenfud

The greater issue is MERS’ lack of standing to assign anything - it holds nothing, is an empty box. That’s where the courts are heading - MERS’ creation was/is/and always will be a huge FUBAR for the mortgage industry.
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WF generally did not rely on MERS but had their own copycat system for recording and documenting that bypassed the public record system... since they serviced vertically integrated companies they may have some legitimacy to their assignments and such... Time for the courts to strike down any system that isn’t publicly accessible.


19 posted on 05/04/2011 9:06:46 PM PDT by Neidermeyer
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