Is a MERS deed assignment from a mortgage broker company whose been out of business 4 years valid?

Asked over 1 year ago - Denton, TX

Refi closed in mortgage brokering company's name. Loan {note} immediately (same day) transferred to funding lender MIT also out of business. Note endorsed to subsidiary of current servicer who endorsed in blank DOT says "beneficiary is MERS solely as nominee for Lender, hereinafter defined, and lendor's successors and assigns. MERS holds only legal title to the interests granted by the Borrowers in this security instrument if necessary to comply with law or custom, MERS (as nominee for Lender & Lender's successors and assigns) has right to exercise any or all interests including but not limited to right to foreclose, sell the Property & take any action required of Lender including but not limited to releasing or cancelling this security instrument. {pages 1-2 FHA Texas Deed of Trust, 2003}

Attorney answers (2)

  1. Cheryl Rivera Smith

    Contributor Level 20

    Answered . Generally the lien will be found to be valid if challenged in court.

  2. Ergio I. Fernandez

    Pro

    Contributor Level 8

    1

    Lawyer agrees

    Answered . These are very fact intensive and complex matters, beyond the time and scope of this site. There's been a great deal of litigation nation wide with regards to these assignments, and many have been successful. However, you need to consult a real estate or foreclosure lawyer right away.

    The opinion expressed by the attorney is for informational purposes only and not for the purpose of providing... more

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