Case Study: Residential Funding V. Saurman

Law360, New York (December 16, 2011, 11:53 AM EST) -- In an opinion that will likely preserve the validity of hundreds, if not thousands, of mortgage foreclosures across the state, the Michigan Supreme Court recently confirmed the ability of Mortgage Electronic Registration System (MERS) to perform nonjudicial foreclosures by advertisement (as opposed to a court-supervised foreclosure). In doing so, the court reversed the contrary holding of the Michigan Court of Appeals. The case is Residential Funding Co LLC v Saurman, ___ Mich ___ (Docket No. 143178, Nov. 16, 2011).

As the Court of Appeals explained, "MERS...
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