02/23/2012 05:41:30 PM EST
Judge: Kentucky County Clerks Lack Standing To Challenge Mortgage Transfer System
PADUCAH, Ky. A federal judge in Kentucky on Feb. 21 dismissed a putative class action suit filed by two Kentucky county clerks against Mortgage Electronic Registration System Inc. (MERS), its parent company and 15 financial institutions, after finding that state law did not provide a private cause of action for the clerks to pursue claims that the defendants conspired to avoid paying recording fees for the assignment of promissory notes (Christian County Clerk v. Mortgage Electronic Registration Systems Inc., et al., No. 11-CV-00072-M, W.D. Ky.; 2012 U.S. Dist. LEXIS 21380).
Full story on lexis.com