Title agencies running scared, canceling closings after Michigan Appeals Court rules against MERS

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Title agencies running scared, canceling closings after Michigan Appeals Court rules against MERS

Title agencies running scared, canceling closings after Michigan Appeals Court rules against MERS

DETROIT FREE PRESS-

Local Realtors say title companies are canceling closings on some bank-owned homes after a recent Michigan Court of Appeals decision made it more risky to insure them.

Late last month, the court ruled the Mortgage Electronic Registration System lacks authority to foreclose by advertisement in Michigan. The system is an electronic record-keeper of mortgages.

read the ruling below…

Michigan Court Of Appeals Rules, Consolidates (2) Cases MERS “STRAWMAN” Has No Authority To Foreclose

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