Delaware Supreme Court upholds MERS authority to assign mortgage

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.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s