A pair of rulings from federal bankruptcy judges last week is adding a new wrinkle to the role of  MERSCorp in state foreclosure proceedings.

Judge Robert Grossman, of the U.S. Bankruptcy Court for the Eastern District Of New York, issued a ruling on Feb. 10 declaring that the contractual relationship between mortgage lenders and servicers and MERSCorp is insufficient to allow the Mortgage Electronic Registration Systems to act on behalf of lenders and servicers to transfer mortgage assignments.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.