The above article gives you scribd access to the Cardozo Law Review article explaining why MERS has no standing to participate as a party in a foreclosure action. If you face foreclosure you really need to read and understand this. Years ago Dr. Charles Lincoln brought to our attention the significance of Judge Walt Logan’s dismissal of numerous foreclosure complaints BECAUSE of MERS lack of standing. You should have heeded it THEN.
Realize: A servicer does not have standing because the servicer does not function as an agent of the holder in due course without an agency contract, which none have. The mortgagee MERS did not get injured by failure to pay, so has no standing to sue. The holder in due course may foreclose the loan, but because of not having mortgagee status, the holder in due course may NOT force a foreclosure sale of the mortgaged realty. This catch 22 should make all courts dismiss the foreclosure complaint with prejudice, or grant a quiet title to the borrower.
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