On Wednesday, January 9, Attorney George Babcock will be arguing on appeal Culhane vs. Aurora Loan Services of Nebraska, C.A.No. 11-11098-WGY in front of the United States Court of Appeals for the First Circuit
Arguments in the case will be heard by Chief Judge, the Hon. Sandra L. Lynch, retired Supreme Court Justice, the Hon. David Souter, and Rhode Island Senior Circuit Judge, the Hon. Bruce M. Selya. The central issue being argued consists of whether the mortgage was properly assigned from Mortgage Electronic Registration Systems, Inc. (MERS) to the foreclosing entity (Aurora Loan Services), and whether this granted Aurora the legal ability to foreclose on Culhane’s property. The mortgage assignment and how it plays into the foreclosing entities right to foreclose is one of the key issues in many of the cases Attorney Babcock and his team of lawyers work on each day.
The memorandum, raises another issue central to this case; the conflict of interest posed by the certifying officers, who effectively wear ” two hats” simultaneously: that of assignor (as an agent for MERS) and assignee (as an employee of the note holder or its servicing agent).