MERS Wins Federal Court Battles Over Deed of Trust in Georgia, New York, and Texas

first_imgSign up for DS News Daily About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Authority to Assign Deed of Trust MERS MERSCORP Holdings 2015-09-28 Brian Honea Previous: Policymakers Should Consider SFR as Part of an Affordable Housing Strategy Next: Freddie Mac Obtains $132 Million Insurance Policy to Reduce Credit Risk Tagged with: Authority to Assign Deed of Trust MERS MERSCORP Holdings MERS Wins Federal Court Battles Over Deed of Trust in Georgia, New York, and Texas Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Technology The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Three federal courts have ruled in favor of Mortgage Electronic Registration Systems, Inc. (MERS), dismissing borrowers’ suits to quiet title and affirming MERS’ authority to assign the mortgage lien, according to an announcement from MERSCORP Holdings.The plaintiffs in the cases of Bradley v. Branch Banking Trust (BB&T) (Georgia), Garza v. Flagstar Bank, FSB (Texas), and McCarty v. Bank of New York (New York) all sued MERS and other financial companies, attempting to avoid foreclosure based on claims that MERS could not hold or assign a security instrument.The plaintiffs in the Bradley and Garza cases further claimed that the mortgage or deed was unenforceable because the note and security instrument were split due to the use of MERS in the loan transaction.In the Bradley case, Magistrate Judge Russell G. Vineyard from the U.S. District Court for the Northern District of Georgia dismissed the quiet title claim because the borrower could not claim that he held the full title to the property due to the fact that “it is undisputed that [the borrower] executed a security deed that conveyed the property to MERS.”In McCarty, U.S. District Judge Analisa Torres from the Southern District of New York ruled that the “Plaintiff voluntarily executed the Deed of Trust to obtain the loan. And even construing the amended complaint liberally, Plaintiff has not alleged a proper basis for a discharge of that loan.” In a decision similar to the Bradley case, Torres dismissed the quiet title claims against MERS and upheld the validity of the deed of trust assignment executed by MERS, according to the announcement.Judge David Hittner from the U.S. District for the Southern District of Texas Court ruled in the Garza case that the borrowers “fail to make any allegations to support their assertion that Defendants’ claim to the property is invalid or unenforceable[.]” Like in Bradley and McCarty, the judge dismissed the quiet title claims and upheld the validity of the assignment of the deed of trust to MERS. In all three cases, the quiet title claims were dismissed with prejudice.“These federal courts affirmed that MERS can rightfully hold a security instrument on behalf of the lender and its assigns,” MERSCORP Holdings Vice President for Corporate Communications Janis Smith said. “In addition, the federal court in New York found in McCarty that the borrower’s quiet title and fraud claims were contradicted by the plain language in the mortgage and assignment.”The three court rulings are the latest in a series of victories for MERS in the last two months. In Kentucky earlier in September, the U.S. Sixth Circuit Court of Appeals denied an en banc rehearing of a case that held that recording statutes in the state do not required a recording in the land records when promissory notes are transferred. MERS has also had court victories in North Texas, Tennessee, and Pennsylvania in the last two months. Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 28, 2015 1,191 Views Home / Daily Dose / MERS Wins Federal Court Battles Over Deed of Trust in Georgia, New York, and Texas Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Permanent Loan Modifications Rise Higher in Q2

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save About Author: Kendall Baer Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 17, 2016 1,179 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articlescenter_img HOPE NOW recently released its Q2 2016 data, and it reported over 100,000 permanent modifications completed during the past quarter.From April through June 2016, 100,198 permanent loan modifications signified a 16 percent increase from Q1 2016. Of these loan modifications, approximately 69,000 homeowners received proprietary loan modifications as well as 31,684 homeowners received loan modifications completed under the Home Affordable Modification Program (HAMP).“The Q2-2016 data report confirms the continuous decline of serious delinquency rates across the country. With the lowest reported total to date (1.54 million), markets continue to make recovery from the housing crisis,” said Eric Selk, Executive Director for HOPE NOW. “For those homeowners who still face struggles with affording their mortgage, there are a plethora of options available to them. HOPE NOW servicers remain committed to assisting homeowners avoid foreclosure. The 335,000 non-foreclosure solutions that servicers offered in Q2 is a testament to the assistance that is still being offered. Completed foreclosure sales remain on a consistent decline and the 150,000 homeowners that entered foreclosure in April – June is the lowest quarterly reported total. Despite starting foreclosure, these borrowers will be reviewed for numerous retention and non-retention options before foreclosure is completed.”Additionally, approximately 335,000 homeowners received non-foreclosure solutions from mortgage servicers in Q2. Other non-foreclosure solutions included modifications, short sales repayment plans, deeds in lieu, other retention plans, and liquidation plans. The report states that in situations where a homeowner does not qualify for long term permanent loan modification, mortgage servicers continue to look for short term options that could potentially lead to a permanent solution. Sited by the report is the note that some families will be able to come back from delinquency with a short term repayment plan.“While home retention options are the desired outcome for most homeowners, there is an impressive number of solutions at the industry’s disposal for handling cases in which a HAMP modification or proprietary modification is not viable,” said Selk. “Often these short term alternatives and liquidation options are in the best interest of the homeowner and many times at their request in the case of short sales and deeds in lieu. HOPE NOW’s members have always taken a collaborative approach to assisting families and this coalition of partnerships has led to a significant nationwide housing recovery.”The report also noted that non-foreclosure solutions continue to outpace completed foreclosure sales by a margin of more than four to one with 335,000 solutions to 81,000 foreclosure sales. HOPE NOW states that the variety of solutions that a servicer is able to provide to an at-risk homeowner allows for the homeowner to avoid a foreclosure sale in most circumstances.To view the full report from Q2 click HERE. The Best Markets For Residential Property Investors 2 days ago Permanent Loan Modifications Rise Higher in Q2 Earnings foreclosure preventions HOPE NOW Q2 2016-08-17 Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: The Alternate Housing Market Universe Next: Fannie Mae Updates Foreclosure & Modification Servicing Guides Tagged with: Earnings foreclosure preventions HOPE NOW Q2 Subscribe Home / Daily Dose / Permanent Loan Modifications Rise Higher in Q2 Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Demand Propels Home Prices Upward 2 days agolast_img read more

What’s on the Horizon for Housing Affordability?

first_img Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Tagged with: CoreLogic data Frank Nothaft HOUSING Housing Affordability mortgage The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News CoreLogic data Frank Nothaft HOUSING Housing Affordability mortgage 2017-12-11 Nicole Casperson Share Save Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Fannie and Freddie Announce Holiday Eviction Moratoriums Next: Credit Card Debt Is Rising, and Housing Costs Aren’t Helping  Print This Post What’s on the Horizon for Housing Affordability? Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / What’s on the Horizon for Housing Affordability?center_img About Author: Nicole Casperson The Week Ahead: Nearing the Forbearance Exit 2 days ago As 2017 starts to wind down, CoreLogic’s Chief Economist Frank Nothaft analyzes what he predicts will be the central theme for the 2018 housing market—the continuing erosion of affordability.Although the challenges of affordability have already spread to many high-cost markets, according to Nothaft, the issue is likely to extend to more moderate-cost places across the nation. So what 2017 economic factors are driving this expansion of diminishing affordability into 2018?As the Federal Reserve continues to signal its plan to spike up interest rates, this is the first concern for housing affordability—as it pushes up other short-term interest rates including initial rates on adjustable rate mortgages and reduces its portfolio of long Treasuring and mortgage-backed securities.“And while fixed-rate mortgage rates remain at historically low levels, they are already up about three-fourths of a percentage point above their record low,” Nothaft said. “Fixed-rate loans are forecast to rise in 2018 by at least one-half a percentage point to as much as a full percentage point.”The second factor is the increasing home prices. As previously reported, CoreLogic’s National Home Price Index rose 6 percent year-over-year, with the less expensive homes rising the fastest.According to Nothaft’s analysis, when combined with the rise in mortgage rates, the price increase for lower-priced homes translates into an estimated 15 percent rise over the last year in the monthly principal and interest payment for a first-time buyer.“We expect this trend to continue in 2018, with the CoreLogic Home Price Index for the U.S. up another 5 percent,” Nothaft said.The final factor is the lack of homes for sale, and Nothaft specifically mentions starter homes and first-time buyers experiencing the greatest impact.As low inventory creates competition for the rising desire for homeownership by a growing population of millennial homebuyers, Nothaft notes that home sale conditions will favor the seller by two main aspects. First, multiple contracts per home. Second, more homes that sell at or above listing prices.However, the final prediction made is that the affordability problem could be solved by new construction and rehabilitation of housing stock.“We expect housing starts to increase 5 percent in 2018, but more building is necessary to alleviate the affordability challenges in many higher-cost American cities,” Nothaft forecasts.To view the full U.S. Economic Outlook: December 2017, click here. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Related Articles December 11, 2017 1,871 Views Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Donegal could lose as many as two TDs under new Government plans

first_imgNews Donegal could lose as many as two TDs under new Government plans WhatsApp Guidelines for reopening of hospitality sector published Twitter Facebook By News Highland – May 4, 2011 Almost 10,000 appointments cancelled in Saolta Hospital Group this week NPHET ‘positive’ on easing restrictions – Donnelly Donegal could be set to lose a Dail Deputy under plans by the Government, announced today, to reduce the number of TDsMinister for the Environment Phil Hogan stated the terms of reference for the Constituency Commission will be changed to provide for a reduced number of TDs.A Constituency Commission is due to be established upon the publication of the 2011 Census preliminary results, which are due in June.John McAteer of the TircChonaill Tribune newspaper says the feeling is Donegal could lose one or even two TDs:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/05/johnmacapm.mp3[/podcast] Previous articleDonegal businessman has spent 5 years trying to create business in KillybegsNext articleGovernment says delay in holding Donegal SW by-election cannot be repeated News Highland Pinterestcenter_img Google+ Twitter Pinterest RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Three factors driving Donegal housing market – Robinson Facebook Calls for maternity restrictions to be lifted at LUH Google+ WhatsApplast_img read more

Highland’s Farming News – Thursday 21st May

first_imgNewsPlayback By admin – May 21, 2015 Twitter Guidelines for reopening of hospitality sector published Three factors driving Donegal housing market – Robinson Nine Til Noon Show – Listen back to Wednesday’s Programme Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Previous articleTwo adults and two children injured in Cashelshanaghan crashNext articleKatona’s kids ‘traumatic’ car crash admin A 15 Minute Programme presented by Chris Ashmore every Thursday at 7.05pm highlighting all that’s happening in the farming community.Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/05/Farming-28.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. RELATED ARTICLESMORE FROM AUTHORcenter_img Facebook Highland’s Farming News – Thursday 21st May Calls for maternity restrictions to be lifted at LUH Google+ Pinterest Google+ WhatsApp Twitter Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

Priest facing Donegal rape charge launches another legal challenge in the US

first_imgNews Previous articleHSE to launch Donegal ‘green gyms’Next articleWoman dies in Kilmacrennan crash News Highland Pinterest Twitter Three factors driving Donegal housing market – Robinson LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHOR A US based Irish priest has launched a legal attempt to remain on bail while he fights extradition over an alleged rape in Donegal82 year-old Fr Francis Markey  now living in the US state of Indiana, has been accused of allegedly raping a 15-year-old boy ib two occasion, once at Lough Derg and once in Galway in 1968.Fr Markey has been battling attempts by the DPP to bring him back to Ireland to face charges for the past 18 months.In written briefs filed in court this week, lawyers for the priest argue he should remain free on bail while he files more motions fighting the extradition.The assistant US attorney for northern Indiana, Kenneth Hays, pointed to case and statutory law which, he says, requires Fr Markey to be jailed once the court certifies extradition.Judge Christopher Nuechterlein has accepted that evidence of a crime  may be “weak” but said it was up to the Irish courts to argue it and that the retired priest must face the charges.Fr Markey was arrested in November at his Indiana home in connection with the alleged rape. The priest, formerly based in Monaghan, is accused of raping the child twice in 1968.The 57-year-old man complained to gardai in June 2006 after reading the Ferns report. Twitter WhatsApp WhatsApp Google+center_img Google+ Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Priest facing Donegal rape charge launches another legal challenge in the US Guidelines for reopening of hospitality sector published By News Highland – February 20, 2010 Pinterest Calls for maternity restrictions to be lifted at LUH Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week last_img read more

New twist in saga of IDA Letterkenny office

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR Twitter News WhatsApp WhatsApp Facebook There’s been another twist in the saga of the IDA office in Letterkenny, with the agency now confirming the office will remain open. Three staff will be based there, including the former North West Regional Manager, who now has a national position.Last week, the government told Deputy Charlie Mc Conalogue that the office would be closed and North West operations would concentrated in Sligo.He’s now been told that while sanction is being sought to employ a new North West Regional Manager, that person will be based in Sligo, and the Letterkenny office will not deal with local issues.Deputy Mc Conalogue says that’s not good enough…………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/07/cmida1pm.mp3[/podcast] Need for issues with Mica redress scheme to be addressed raised in Seanad also Pinterestcenter_img Google+ Guidelines for reopening of hospitality sector published Previous articleNew impetus in Mc Cauley assault case five years after vicious attackNext articleGAA – Donegal v Derry Ulster Final Preview Pt3 News Highland Google+ New twist in saga of IDA Letterkenny office Calls for maternity restrictions to be lifted at LUH Twitter Facebook Pinterest By News Highland – July 15, 2011 last_img read more

Mc Hugh welcomes passport office proposal

first_img Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Previous articleBuncrana concillors disagree on Causeway Road traffic light motionNext articleBuncrana Mayor pushing skate park proposal News Highland Google+ By News Highland – May 21, 2010 Pinterest Pinterest Further drop in people receiving PUP in Donegal Twitter RELATED ARTICLESMORE FROM AUTHOR Google+ Facebookcenter_img WhatsApp 365 additional cases of Covid-19 in Republic 75 positive cases of Covid confirmed in North Mc Hugh welcomes passport office proposal Proposals for a passport office in the Northwest have been welcomed by Donegal North East Deputy JoeMcHugh.There’s a current backlog of 62-thousand passports waiting to be processed in the passport offices in Dublin and Cork.It now takes up to 8 weeks to get a passport by ordinary post, or more than a month to recieve one through the express service.Deputy McHugh says he spoke to one woman from Inishowen who had to go on a 320 mile round trip to check the status of her passport…………….[podcast]http://www.highlandradio.com/wp-content/uploads/2010/05/000mchugh1.mp3[/podcast] Twitter Gardai continue to investigate Kilmacrennan fire WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Newsx Advertslast_img read more

Dairy farmers urged to attend income crisis meeting on Monday

first_img WhatsApp Dairy farmers urged to attend income crisis meeting on Monday RELATED ARTICLESMORE FROM AUTHOR Google+ Twitter Twitter Pinterest Google+ Previous articleTwo men arrested following major cannabis seizure in DerryNext articleMcDonald calls on makers of BBC Spotlight programme to reveal source to Gardai admin Pinterest Facebook Facebookcenter_img WhatsApp By admin – September 23, 2016 Homepage BannerNews 365 additional cases of Covid-19 in Republic Further drop in people receiving PUP in Donegal 75 positive cases of Covid confirmed in North Man arrested on suspicion of drugs and criminal property offences in Derry Gardai continue to investigate Kilmacrennan fire Main Evening News, Sport and Obituaries Tuesday May 25th Dairy Farmers in Donegal and the North West are being urged to attend a meeting in Carrick on Shannon on Monday to discuss the income crisis in the sector.Among the speakers will be Deputy Charlie Mc Conalogue, the Fianna Fail Agriculture Spokesperson.The meeting is being organised by the IFA, its National Dairy Chairperson is Sean O’Leary……..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/09/oleary.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.last_img read more

Funding confirmed for Swilly Ferry – Donaghey

first_img RELATED ARTICLESMORE FROM AUTHOR 75 positive cases of Covid confirmed in North Previous articleMoney promised to cap Greencastle breakwater, but no guarantee of completionNext articleUdaras retains enterprise role, but board will no longer be elected News Highland Google+ Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Newsx Adverts Facebook Inishowen Councillor Rena Donaghey says final agreement has now been reached with the operators of the Lough Swilly Ferry, and the service linking Buncrana and Rathmullan should be up and running in a fortnight’s time.There was some debate at a council meeting earlier in the week about the availability of money from a Strategic Funding programme, but it seems that has now been resolved.She’s hopeful this will become an annual package, arguing that the Swilly Ferry is a vital cog in the tourism trail linking North Antrim and Sliabh Liag.Cllr Donaghey says the final agreement was sealed after a series of meetings yesterday………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/06/renad1pm.mp3[/podcast] Pinterest Funding confirmed for Swilly Ferry – Donaghey Google+center_img Pinterest Twitter Facebook WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic Twitter Further drop in people receiving PUP in Donegal By News Highland – June 3, 2011 Gardai continue to investigate Kilmacrennan firelast_img read more