The Michigan Court of Appeals handed down a ruling yesterday essentially saying MERS has no authority to foreclose in the state of Michigan The court combined two cases, Residential Funding Co, LLC, f/k/a Residential Funding Corporation v. Gerald Saurman and Bank of New York Trust Company v. Corey Messner. The court overruled both a district court ruling and circuit court ruling which found in favor of the plaintiffs in both cases. In their conclusion, the court commented,
MERS did not own the indebtedness, own an interest in the indebtedness secured by the mortgage, or service the mortgage. MERS’ inability to comply with the statutory requirements rendered the foreclosure proceedings in both cases void ab initio.
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