Home Foreclosures: 4.7 Challenging MERS’s Standing in Bankruptcy Proceedings
If the consumer files bankruptcy, MERS requires that for actions taken after July 22, 2011, the MERS’s member assign any security interest in MERS name to the name of the beneficial owner and take the action in the name of the beneficial owner.270 This rule applies to filing proofs of claim and motions for relief from the bankruptcy stay.