State's high court: Mortgage registry can't foreclose | Business & Technology | The Seattle Times:
"In a unanimous opinion, the Washington Supreme Court said that Mortgage Electronic Registration Systems (MERS) can't begin a foreclosure itself because it doesn't hold the note the homeowner signed with the lender. The ruling means banks or other noteholders will have to initiate foreclosures themselves instead of relying on MERS."
Here in Illinois there is an appellate court case saying that MERS does have standing to foreclose. I think this is nuts. MERS is just a scam the banks cooked up to cheat counties out of the recording fees every time they re-sell a note and mortgage. Now they want to use this phony organization as a quick way to foreclose, instead of having to prove that there is a real bank that really own the original note. Thanks to Fred Pilot for this link.