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Loan Modification

: Mortgage Lender Implode-o-Meter

Merscorp Lacks Right to Transfer Mortgages, Judge Says

By Implode-Explode Heavy Industries

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?MERS?s theory that it can act as a ?common agent? for undisclosed principals is not supported by the law,? Grossman wrote in a Feb. 10 opinion. ?MERS did not have authority, as ?nominee? or agent, to assign the mortgage absent a showing that it was given specific written directions by its principal.?

Full post as published by Mortgage Lender Implode-o-Meter on February 14, 2011 (boomark / email).

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