|CALENDAR STATUS: Active|
|Rebecca Niday v. GMAC Mortgage, LLC|
|Supreme Court Courtroom|
|Gregory A Chaimov on behalf of Mortgage Electronic Registration Systems, Inc.|
W Jeffrey Barnes on behalf of Rebecca Niday
Statement of Issues:
|Rebecca Niday v. GMAC Mortgage, LLC, (S060655) (A147430) (appeal from Clackamas County Circuit Court; opinion reported at 251 Or App 278, __ P3d __ (2012)).|
Defendant Mortgage Electronic Registration Systems, Inc. (MERS) has been granted review of a Court of Appeals decision that reversed and remanded a summary judgment granted to MERS by the trial court in an action filed by plaintiff Rebecca Niday, who had sought a declaratory judgment and injunctive relief to stop a trustee's sale of plaintiff's home as part of Oregon's statutory, nonjudicial foreclosure process for trust deeds.
On review, the issues are:
(1) Does the term "beneficiary, " as used in the Oregon Trust Deed Act, mean only the party to whom the underlying secured obligation is owed, or may MERS, which allegedly is neither a lender nor successor to a lender, act as beneficiary?
(2) Does MERS qualify as a beneficiary within the meaning of the Oregon Trust Deed Act, where the Deed of Trust states that "MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right to exercise any or all of those interests"?
(3) Does the transfer of a promissory note result, by operation of law, in an "assignment of the trust deed" within the meaning of ORS 86.735(1)?
The foregoing summary of a Supreme Court case that is scheduled for oral argument has been prepared for the benefit of the public. Parties and practitioners should rely on neither the factual summary set out above, nor the statement of issues to be decided, as delineating the questions that the Supreme Court ultimately may consider on review. See generally Oregon Rule of Appellate Procedure 9.20.
Justice(s) NOT Participating: