July 18, 2012

Just moments ago, we learned that the Court of Appeals of Oregon has reversed a summary judgment entered against the homeowners and has, in a 28 page opinion, held that MERS is NOT the “beneficiary” under the Oregon Trust Deed Act, ORS 86.705(1), despite MERS claiming to be the “beneficiary” in Deeds of Trust. Jeff Barnes, Esq. represents the homeowners together with local Oregon counsel Elizabeth Lemoine, Esq. Mr. Barnes wrote the appellate Briefs and argued the case before the 3-Judge panel of the Oregon Court of Appeals.

The extremely detailed opinion traces the history of mortgage law in Oregon and the Oregon Trust Deed Act, and acknowledged that this was a “case of first impression” in the Oregon appellate courts and involved “an intersection between Oregon’s nonjudicial foreclosure laws and a creature of more modern vintage: Mortgage Electronic Registration Systems, Inc., also known as MERS.”

This decision has been awaited not only by Oregon homeowners, but homeowners in neighboring states as well which have nonjudicial foreclosure procedures and MERS issues. The Oregon Trial Lawyers’ Association also filed “amicus” briefs with the appeals Court supporting the position of the homeowners.

The entire opinion is available by e-mailing us per the “Contact Us” link above.

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com