KABOOM | BAIN vs. METROPOLITAN MORTGAGE GROUP INC. et al – Washington’s Highest Court Rules MERS Cannot Foreclose on Homeowners

Washington’s Highest Court Rules MERS Cannot Foreclose on Homeowners

The Washington Supreme Court ruled unanimously today that the mortgage industry’s controversial document-recording system lacked authority to start out-of-court foreclosures and might have violated state consumer protection laws.

The state’s highest court ruled that lenders could not foreclose on homeowners in the name of the Mortgage Electronic Registration Systems Inc. It found that MERS did not meet Washington’s definition of a beneficiary and could not foreclose on behalf of a lender that holds the mortgage note.

“Simply put, if MERS does not hold the note, it is not a lawful beneficiary,” the court wrote in an opinion written by Justice Tom Chambers and released today.

The court also ruled that MERS’s involvement in robo-signing mortgage documents, among other behaviors, appeared to violate Washington’s Consumer Protection Act. But consumers must try such claims on a case-by-case basis.

“.¤.¤. the mere fact MERS is listed on the deed of trust as a beneficiary is not itself an actionable injury,” the court wrote.

Rest here…

Washington had a good day…

Copy of the ruling below…

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4closureFraud.org

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BAIN vs. METROPOLITAN MORTGAGE GROUP INC.

Comments
3 Responses to “KABOOM | BAIN vs. METROPOLITAN MORTGAGE GROUP INC. et al – Washington’s Highest Court Rules MERS Cannot Foreclose on Homeowners”
  1. chitown2020 says:

    MERS is quite a scam.

  2. leapfrog says:

    Please cue the laughing mouse. Any day that POS scam entity known as MERS gets a smackdown is a GOOD DAY indeed. HAHAHAHAHA!!!

  3. What everyone keeps missing: MERS not cannot act as A BENEFICIARY. Not just to foreclose, but to TRANSFER BENEFICIAL INTEREST. The chain of titles on most mortgages travels from the original lender-to MERS-to foreclosing lender. ***MERS CAN NO LONGER MAKE THAT TRANSFER!!*** So now, they must (just as in Florida and the the 23 other JUDICIAL states) re-create the transfers (signatures etc.) and this was the birth of “Robo-Signing”. THIS is the bomb that dropped yesterday. MERS hasn’t been foreclosing in it’s own name in Washington State for over a year… they simply transferred just prior to foreclosure to whomever was foreclosing. That will all FULL STOP. This is the big deal in this decision. 🙂

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