It just got a lot harder to foreclose on homes with securitized mortgages in Kansas, and quite probably, the rest of the nation

Now, the Kansas Court of Appeals has called foul. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. Other than, I have yet to see any MSM coverage of the issue. The Court stated that MERS’ relationship is not that of a true party possessing all the rights given a buyer. Hence, the court ruled:

via Mortgage Electronic Registration Systems Loses Legal Shield | The Big Picture.

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