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Assignment of Deed of Trust, Substitution of Trustee, Who is Who?

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I just pulled my public records concerning my loan. I have a Deed of Trust, Assignment of Deed of Trust, and Substitution of Trustee. I'm confused as to who the players are.

Initially, the roles were stated in the Deed of Trust. But then they (I think MERS) filed an Assignment of Deed of Trust and that threw me off. It states that MERS is assigning/conveying the Deed of Trust to Deutsche Bank...Company. It list the original borrowers (that would be me) and the original beneficiary as MERS as Nominee for xxxx Company. The doc was signed by someone at MERS. So what does this mean? Does this mean that Deutsche is the new beneficiary or lender? Is MERS still the beneficiary but the lender changed? Or did the beneficiary change?

Your response is greatly appreciated!

Attorney Answers 1


A Deed of Trust has three parties. The first party is the trustor. This is the party that creates the trust, and is usually the borrower. The second party is the beneficiary of the trust, which is usually the lender. The third party is the trustee, who is usually an unrelated party, such as a title company, who holds the deed until the conditions of the trust have been satisfied.
It sounds like the assignment of the deed of trust means that the beneficiary of the deed of trust has been changed from MERS to Deutsche Bank. If that is the case, then it means that Deutsche Bank is the new beneficiary under the Deed of Trust. The new beneficiary has all of the rights of the original beneficiary, and if there are any problems or defect to title that the prior beneficiary had, then those problems or defects are now the responsibility of the new beneficiary.
I hope this clears things up for you.

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Lets say that your deed was with another party like lets say Wilmington Finance. A year after Wilmington Finance shut down. An assignment was filed that MERS assigned the mortgage to Vericrest. MERS is listed as nominee and benficiary but they are not the lender. Do they have authority to assign the mortgage to another party

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