MERSCORP Holdings secured another legal victory against a disgruntled mortgagor who claimed that MERS lacked the authority to assign a mortgage, this time in Delaware.
In Albertson vs. BAC Home Loan Servicing, LP, the borrowers alleged that the assignment of their mortgage from MERS to BAC was invalid. The Delaware Supreme Court issued a ruling that upheld the lower court’s ruling that BAC had the authority to foreclose.
Additionally, the Court also found that MERS’ assignment of the mortgage was valid and complied with Delaware state law.
In the Supreme Court’s order, Justice Henry DuPont Ridgely ruled that the plaintiffs’ claims “lacked merit.” The court also found that assignment by MERS complied with the requirements of Delaware law because it had one creditable witness and was notarized.