Massachusetts Court of Appeals upholds MERS rights

MERSCORP’s rights as mortgagee have come under fire in many courtrooms throughout the U.S., but a decision from the Massachusetts Court of Appeals reinforces the company’s right to assign a mortgage.

In a lawsuit entitled Shea v. Federal National Mortgage Association, the borrower appealed the lower court’s decision dismissing his quiet title and related claims.

On appeal, Shea argued that the underlying foreclosure was void because MERSCORP’s Mortgage Electronic Registration Systems never held the underlying note and was never a “true” mortgagee. Additionally, Shea alleged that the MERS assignment was invalid because the note holder did not specifically authorize MERS to execute the assignment.

Read on.

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