South Carolina litigation that targets banks and their mortgage registration system in the wake of the financial collapse of 2008 will advance.
A Bluffton law firm representing five counties, including Beaufort and Jasper, announced an initial victory on Friday over Mortgage Electronic Registration Systems, the national electronic registry and its member banks.
A judge in the S.C. Business Court has denied the request by MERS and the bank defendants to dismiss the counties’ claims. Without the Judge R. Lawton McIntosh’s determination, the cases would have ceased.
“Judge McIntosh’s order denying the motions to dismiss the issues raised by the counties was an early but essential hurdle we had to cross with the real battles to come in the future as we continue to press our claims against MERS and its member banks,” said Jim Scheider, one of the lead attorneys for the counties. Hampton, Collation and Allendale are the other three counties. The five individual cases had been consolidated for the hearing before Judge McIntosh.