Law360, New York (February 24, 2011, 8:36 PM ET) -- A California appeals court affirmed last week that Mortgage Electronic Registration Systems Inc., which oversees an electronic registry for tracking the transfer of ownership interests in mortgage loans, could proceed with a foreclosure after a borrower defaulted on loan payments.
The California Court of Appeal for the Fourth Appellate District held Feb. 18 that a state court in San Diego was correct in sustaining a demurrer filed by defendants MERS, Countrywide Home Loans Inc. and ReconTrust Co. NA without leave to amend.
Jose Gomes borrowed $331,000...
MERS Can Pursue Foreclosure, Calif. Court Rules
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