OREGON FEDERAL COURT GETS IT RIGHT AGAIN: INJUNCTION GRANTED AGAINST SALE; MERS NOT A BENEFICIARY

October 12, 2010

In a decision rendered October 6, 2010, an Oregon Federal Judge has granted the borrower’s preliminary injunction prohibiting a trustee’s sale and has once again noted that pursuant to decisional law, MERS is not a beneficiary despite claiming to be so and claiming the right to substitute the trustee for purposes of advancing a foreclosure. The case involves Bank of America as a successor trustee to a LaSalle Bank securitization with Mortgage Lenders Network as the originating lender; Litton as the servicer; LSI as the title company; and Quality Loan Service (of San Diego) as Defendants in addition to MERS.

The opinion cites the Landmark v. Kesler, Bellistri v. Ocwen, and Saxon v. Hillery cases in support of its position as to MERS in addition to the recent In Re Allman decision from the Oregon Bankruptcy Court, and rejects the pro-MERS decisions cited by the Defendants in their Motion to Dismiss.

We have also been notified by one of our readers that the State of Washington is also issuing rulings that foreclosing parties are lacking critical documents to foreclose. We will publish more details on this.

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com

Leave a Reply