MERS cannot hold a valid mortgage for purposes of foreclosure.

Name: MERS cannot hold a valid mortgage for purposes of foreclosure.
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Question

Quizplus · Accepted Answer

MERS (Mortgage Electronic Registration Systems) can hold a valid mortgage for purposes of foreclosure as it acts as a nominee for the lender and its successors and assigns, and courts have generally upheld its legal standing to initiate foreclosure proceedings on behalf of the lenders it represents.

MERS Cannot Hold a Valid Mortgage for Purposes of Foreclosure