MERS - Kevin A. Lavalle

Michigan Supreme Court May Entertain Appeal of MERS Decision

Post author:Kevin Lavalle
Post published:March 19, 2015
Post category:Real Property Law

The Michigan Supreme Court may weigh in on the question of whether Mortgage Electronic Registration Systems, Inc. (“MERS”) can use the foreclosure by advertisement statute. The Michigan Court of Appeals ruled in Residential Funding Co, Inc. v Saurman, — NW2d —, 2011 WL 1516819 (Mich. App. April 21, 2011), that MERS could not utilize the foreclosure by advertisement statute when it did not own the underlying note. (more…)

MERS 1, Homeowners 0

Post author:Kevin Lavalle
Post published:March 19, 2015
Post category:Real Property Law

In Residential Funding Co., LLC, f/k/a Residential Funding Corp. v Saurman, the Michigan Court of Appeals held that Mortgage Electronic Registration Systems Inc. (“MERS”) could not pursue foreclosures under Michigan’s foreclosure by advertisement statute and that certain foreclosures already obtained were invalid. MERS was created by the lending industry to make it easier to sell home loans to investors. (more…)