Home Foreclosures: 4.5.2 MERS May Not Foreclose Because It Is Not a True Beneficiary of the Note
Most courts recognize that authority to foreclose must align with the authority to enforce the promissory note that is secured by the mortgage or deed of trust.197 This general rule applies in most judicial and non-judicial foreclosure jurisdictions.198 The rule typically derives from definitions found in the state’s foreclosure statute, the state’s common law, or both.