In MERS ruling, Oregon Supreme Court clears way for out-of-court foreclosures to proceed

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In MERS ruling, Oregon Supreme Court clears way for out-of-court foreclosures to proceed

In MERS ruling, Oregon Supreme Court clears way for out-of-court foreclosures to proceed

Oregon Live-

The Oregon Supreme Court on Thursday cleared the way for banks to return to their preferred out-of-court method of foreclosing on delinquent mortgages.

The court ruled that the Mortgage Electronic Registration Systems, a lending industry database that chronicles loan ownership, doesn’t meet the definition of “beneficiary” under state law. As a result, foreclosures can’t move forward under MERS’ name, as was common in the early years of the foreclosure crisis.

But the high court disagreed with the Oregon Court of Appeals, a lower court, that previously ruled banks had to record each change in ownership in county records to initiate an out-of-court foreclosure.

[OREGON LIVE]

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2 Responses to “In MERS ruling, Oregon Supreme Court clears way for out-of-court foreclosures to proceed”

  1. Beware Oregon homeowners. many judges in Washington are disregarding the Bains V MERS case and telling the lawyers for homeowners this case does not apply in their court. Total disregard for the WA Supreme Court justices. NW Trustee’s appears to have taken over for MERS and you can bank on this happening in Oregon. MERS docs were deleted from Washington County records and NW Trustees had MERS a fraud assign to a fraud or and an employee inside NW Trustees sign they were satisfied with the (hearsay) information they had to assign to themselves the mortgage. Fruad up fraud. Watch for public notices by foreclosures abd do a public notice back at them disputing their fraud documents. My opinion only not an attorney. Good attorneys in WA came up against corrupt biased judges going by bank law only and no due process, unconstitutional law.

  2. Marcie says:

    Jeff Barnes is saying that a Bank Lobbyist wrote the newspaper article. He is saying that the ruling does not favor the banks.

    http://foreclosuredefensenationwide.com/?p=512

    http://foreclosuredefensenationwide.com/?p=511

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