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DE v. MERS

DE v. MERS

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Published by DinSFLA

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Published by: DinSFLA on Oct 28, 2011
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03/12/2012

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of the beneficial ownership of a mortgage loan, but does not have adequate

safeguards to ensure that the transfer recorded in MERS System accurately reflects

an actual transfer of ownership. Where MERS seeks to assign a mortgage or

foreclose on a mortgage loan on behalf of a securitization trust that, despite being

registered as the mortgage owner in the MERS System, does not own the loan,

MERS acts without authority. This is a deceptive trade practice within the meaning

of 6 Del. C. § 2532(a)(2), (3), (5) and (12).

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