Allen v. Select Portfolio Servicing
In October 2006, plaintiff obtained a $448,000 loan from United Financial Mortgage Corp. (United Financial), which was secured by a deed of trust that identified First American Title (First American) as the “trustee” and identified Mortgage Electronic Registration Systems, Inc. (MERS) as “a nominee” of the lender (and it’s successors and assigns) and as “beneficiary” under the security instrument. As such, MERS was authorized to exercise any of the lender’s rights, including the right to foreclose. The deed of trust was recorded the same month.
More than two years later, on January 20, 2009, MERS (as nominee of United Financial) executed an assignment of “all beneficial interest” in the deed of trust to LaSalle Bank NA (LaSalle) as trustee for Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA2 Trust (the securitized trust). This assignment by MERS of United Financial’s beneficial interest in the deed of trust was signed by Debora
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