MERS has no standing

[bubba99]

I agree that Sulak failed in their bid to contest MERS, but the recent bankruptcy court rulng seems to be just the opoosite. “which found that MERS could not, as a matter of law, have transferred the note to Citibank from the original lender, Bayrock Mortgage Corp. The Court’s opinion is headlined stating that MERS and Citibank are not the real parties in interest.”

Further, “Any attempt to transfer the beneficial interest of a trust deed without ownership of the underlying note IS VOID UNDER CALIFORNIA LAW.”

It maybe that this does not hold up under appeal, but for now, there is a hole in the damn. Here in California, and Kansas, New York, and Ohio.

[Kingside]

The Sulak case (there were actually three separate appeals in the case) is an unpublished decision which means that it cannot be cited as authority in California cases for any legal proposition.

You tend to see the MERS issue come up more in bankruptcy cases because the standard for “standing” to get relief from stay to foreclose is much more restrictive than when a non-judicial foreclosure takes place under California State law outside of bankruptcy.

I wouldn’t say the defenses that may arise in connection with MERS are useless in California. They are alive and well in bankruptcy cases, and may be available to a borrower in State Court to at least get a long postponement of foreclosure and negotiation leverage with the right set of facts. The borrower needs the wherewithal and resources to properly present them in order to obtain an injunction though. Its no slam dunk.

[Kingside]

The Sulak case (there were actually three separate appeals in the case) is an unpublished decision which means that it cannot be cited as authority in California cases for any legal proposition.

You tend to see the MERS issue come up more in bankruptcy cases because the standard for “standing” to get relief from stay to foreclose is much more restrictive than when a non-judicial foreclosure takes place under California State law outside of bankruptcy.

I wouldn’t say the defenses that may arise in connection with MERS are useless in California. They are alive and well in bankruptcy cases, and may be available to a borrower in State Court to at least get a long postponement of foreclosure and negotiation leverage with the right set of facts. The borrower needs the wherewithal and resources to properly present them in order to obtain an injunction though. Its no slam dunk.

[Kingside]

The Sulak case (there were actually three separate appeals in the case) is an unpublished decision which means that it cannot be cited as authority in California cases for any legal proposition.

You tend to see the MERS issue come up more in bankruptcy cases because the standard for “standing” to get relief from stay to foreclose is much more restrictive than when a non-judicial foreclosure takes place under California State law outside of bankruptcy.

I wouldn’t say the defenses that may arise in connection with MERS are useless in California. They are alive and well in bankruptcy cases, and may be available to a borrower in State Court to at least get a long postponement of foreclosure and negotiation leverage with the right set of facts. The borrower needs the wherewithal and resources to properly present them in order to obtain an injunction though. Its no slam dunk.

[Kingside]

The Sulak case (there were actually three separate appeals in the case) is an unpublished decision which means that it cannot be cited as authority in California cases for any legal proposition.

You tend to see the MERS issue come up more in bankruptcy cases because the standard for “standing” to get relief from stay to foreclose is much more restrictive than when a non-judicial foreclosure takes place under California State law outside of bankruptcy.

I wouldn’t say the defenses that may arise in connection with MERS are useless in California. They are alive and well in bankruptcy cases, and may be available to a borrower in State Court to at least get a long postponement of foreclosure and negotiation leverage with the right set of facts. The borrower needs the wherewithal and resources to properly present them in order to obtain an injunction though. Its no slam dunk.

[Kingside]

The Sulak case (there were actually three separate appeals in the case) is an unpublished decision which means that it cannot be cited as authority in California cases for any legal proposition.

You tend to see the MERS issue come up more in bankruptcy cases because the standard for “standing” to get relief from stay to foreclose is much more restrictive than when a non-judicial foreclosure takes place under California State law outside of bankruptcy.

I wouldn’t say the defenses that may arise in connection with MERS are useless in California. They are alive and well in bankruptcy cases, and may be available to a borrower in State Court to at least get a long postponement of foreclosure and negotiation leverage with the right set of facts. The borrower needs the wherewithal and resources to properly present them in order to obtain an injunction though. Its no slam dunk.

[Kingside]

For anyone who wants to go through the necessary brain damage to analyze these issues, a good read is the bankruptcy case of In re: Hwang:

http://www.bankruptcylawnetwork.com/wp-content/uploads/2008/12/2008_bankr__lexis_2969hwang.pdf

Judge Bufford, the author of the decision is well regarded in the legal community.

[Kingside]

For anyone who wants to go through the necessary brain damage to analyze these issues, a good read is the bankruptcy case of In re: Hwang:

http://www.bankruptcylawnetwork.com/wp-content/uploads/2008/12/2008_bankr__lexis_2969hwang.pdf

Judge Bufford, the author of the decision is well regarded in the legal community.

[Kingside]

For anyone who wants to go through the necessary brain damage to analyze these issues, a good read is the bankruptcy case of In re: Hwang:

http://www.bankruptcylawnetwork.com/wp-content/uploads/2008/12/2008_bankr__lexis_2969hwang.pdf

Judge Bufford, the author of the decision is well regarded in the legal community.

[Kingside]

For anyone who wants to go through the necessary brain damage to analyze these issues, a good read is the bankruptcy case of In re: Hwang:

http://www.bankruptcylawnetwork.com/wp-content/uploads/2008/12/2008_bankr__lexis_2969hwang.pdf

Judge Bufford, the author of the decision is well regarded in the legal community.

[Kingside]

For anyone who wants to go through the necessary brain damage to analyze these issues, a good read is the bankruptcy case of In re: Hwang:

http://www.bankruptcylawnetwork.com/wp-content/uploads/2008/12/2008_bankr__lexis_2969hwang.pdf

Judge Bufford, the author of the decision is well regarded in the legal community.

[Author]

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