US Bankruptcy Judge to MERS: See Ya!

How did I miss this Valentine?

US Bankruptcy Judge Robert E. Grossman rules in In re: Agard that MERS does not have the legal rights to transfer mortgage notes.

As in: This Mortgage is an A-to-B Conversation, MERS - you can C your way out of it.

Here's Bloomberg

“MERS’s position that it can be both the mortgagee and an agent of the mortgagee is absurd, at best.”


Grossman said parties coming to him to seek to lift the automatic ban on legal claims in cases involving MERS will have to show they own both the mortgage and the note.

That's gotta sting.

(Via TBP)