Robert Somerton 3:37pm Nov 17 A VERY GOOD QUESTION! We should all be asking... did MERS have the authority to assign anything? The Appellate Division, Second Department speaking spoke specifically with respect to transfers of mortgages by MERS in Bank of New York v. Silverberg. In that case, the court held that the language which granted MERS and interest in the mortgage failed to grant MERS any interest in the corresponding note. Consequently, MERS lacked the authority to assign the power to foreclose.5 Therefore, the string of transfers facilitated by MERS did not grant the plaintiff the power to foreclose on the mortgage and subsequent CEMA. leagle/decision/In%20NYCO%2020130108248
Posted on: Sun, 17 Nov 2013 23:16:12 +0000
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