The court concluded that "… we see no reason why MERS, as an agent of the owner of the note, cannot foreclose on behalf of that entity." MERS stopped foreclosing in its name in July 2011. Mortgages are now assigned to a member lender prior to initiating foreclosure proceedings."We are pleased that the Rhode Island Supreme Court Justices expended such thoughtful and precise analysis when affirming MERS' role and authority," MERSCORP's Director for Corporate Communications Jason Lobo said. "This decision caps months of strong rulings in MERS' favor in Rhode Island."
MERS' Role In Rhode Island Affirmed By State Supreme Court
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