“The states have not manufactured standing” to file the lawsuit, he said, but have a “personal stake” in the matter. The arguments were heard by three judges selected at random from the 5th Circuit.
In a case having potentially enormous implications on foreclosure actions in New York State and throughout the country, the Second Department in Bank of New York v.Silverberg, addressed whether a party has standing to commence a foreclosure action when that party’s assignor, mortgage electronic registration Systems, Inc. (MERS), was listed in the underlying mortgage instruments as a nominee.
Appeals are taken from the four departments of the New York Supreme Court, Appellate Division to the Court of Appeals. In some cases, an appeal lies of right, but in most cases, permission (or "leave") to appeal must be obtained, either from the Appellate Division itself or from the Court of Appeals.
NY appellate court scrutinizes the MERS standing issue From Housing Wire A decision by New York’s 2nd Appellate Division may not have a direct impact on the issue of when Mortgage Electronic Registration Systems has standing in foreclosure cases, but it contains persuasive language that could be a shot across the bow when it comes to jurisdiction relating to MERS.
Mortgage servicing faces billion-dollar secondary crisis NY appellate court scrutinizes the MERS standing issue Bank of N.Y. Mellon v Gordon 2019 NY Slip Op 02306 Decided on March 27, 2019 Appellate Division, Second Department Miller, J., J. Published by New york state law reporting Bureau pursuant to Judiciary Law 431.
various amici argue that MERS has violated the clear prohibition against separating a lien from its debt and that MERS does not have standing to bring foreclosure actions, those issues remain for another day (see e.g. Merritt v Bartholick, 36 NY 44, 45 ["a
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For more, see NY appellate court scrutinizes the MERS standing issue. For the ruling, see Aurora Loan Servs., LLC v Weisblum , 2011 NY Slip Op 04184 (NY App. Div. 2d Dept. May 17, 2011). Posted by Home Equity Theft Reporter at 12:11 AM 0 comments Links to this post
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