MERS GETS SLAMMED IN RHODE ISLAND SUPREME COURT DECISION!

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MERS GETS SLAMMED IN RHODE ISLAND SUPREME COURT DECISION!

MERS GETS SLAMMED IN RHODE ISLAND SUPREME COURT DECISION!

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The Rhode Island courts seem to have a propensity to give Mortgage Electronic Registration Systems, Inc. (“MERS”) credence to do whatever it wants in that State primarily because the Borrowers of MERS-originated Mortgages did not understand what they were signing when they let MERS into their contract. Since then, MERS and its attorneys have maintained (albeit successfully in most cases) that because the Borrowers let them in by contract, they are subject to the enforcement provisions of that contract, especially when MERS gets involved. A new ruling issued today appears to throw a monkey wrench into MERS’s contractual rights, as follows:

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