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2012-08-18 — seattletimes.com
``In a unanimous opinion, the Washington Supreme Court said that Mortgage Electronic Registration Systems (MERS) can't begin a foreclosure itself because it doesn't hold the note the homeowner signed with the lender. The ruling means banks or other noteholders will have to initiate foreclosures instead of relying on MERS.
Observers said the opinion could have a broader impact on other court cases alleging wrongful foreclosures in Washington. The ruling also leaves the door open for those who were wrongfully foreclosed to claim damages under state consumer-protection law -- but it doesn't mean those homeowners in default are off the hook from paying their loans.''
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