Ruling ensures lenders comply with mortgage law

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Ruling ensures lenders comply with mortgage law

Ruling ensures lenders comply with mortgage law

Statesman Journal-

As the firm representing the homeowners in the recent Oregon Supreme Court case of Brandrup et al. v. ReconTrust et al., we would like to offer our inside analysis of the case and what it means for homeowners.

First, it is important to note that the court’s ruling is not an unequivocal win for either homeowners or lenders. While homeowners prevailed in three of the four questions before the court, lenders prevailed on one issue.

So where does this decision leave homeowners facing non-judicial (out of court) foreclosures?

First, the court completely adopted homeowners’ arguments regarding Mortgage Electronic Registration Systems Inc. (MERS). Homeowners argued that MERS could not be a beneficiary under the Oregon Trust Deed Act. The court agreed that MERS does not qualify as a beneficiary, regardless of what is stated in the trust deed.

[STATESMAN JOURNAL]

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