In 2010, the mortgage was transferred to Chase by Mortgage Electronic Registration Systems, acting for Fleet. Chase both owns and services the mortgage. MERS tracks loan ownership and servicing.
The transfer was signed by Whitney Cook, a MERS vice president. Various websites show that her name appears on other mortgage assignments where she holds titles for different companies, raising doubts that she reviewed the records and had the authority to sign them.
A mortgage dispute with a twist
SAN ANTONIO – In a strange twist in the ongoing saga of shoddy record-keeping surrounding mortgage documents, Chase bank last month sued a San Antonio couple because they were mistakenly released from having to make any more house payments – nine years ago.
Chase filed suit in U.S. District Court in San Antonio last month against Ramiro and Delia Guerrero Jr. to rescind a mortgage-lien release recorded in 2002. The bank also wants the mortgage declared valid so the couple will have to resume making payments.
Stephen Cochran, the Guerreros’ lawyer, acknowledged the couple never made their mortgage payments after a 2001 refinancing – blaming that on the then-lender apparently losing the note and the couple’s confusion over where to send their payments.
Nevertheless, Cochran said, Chase, which was assigned the loan last year, waited too long to fix the problem. A lawsuit to correct the problem needed to be filed within four years of the release-of-lien filing under the statute of limitations, he said.
“Lots of good cases … have been lost because you’re just out of time,” Cochran said.
Full details on this here…