Idaho Judge Affirms Role of MERS as Trust Deed Beneficiary

""MERSCORP Holdings, Inc."":http://www.mersinc.org/, announced Monday that an Idaho district judge upheld the role of Mortgage Electronic Registration Systems (MERS) as trust deed beneficiary.

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In his ruling on _Wilkins v. First Magnus Financial Corporation_, District Judge Darren B. Simpson denied a borrowers' attempt to use the judicial system as what he called ""a fishing expedition in search of flaws in the Trust Deed or the Note."" He also rejected the plaintiffs' bid for ownership of property that was foreclosed on by MERS.

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Simpson ruled that the ""legal title"" clause in the MERS Deed of Trust gives MERS power to take action on behalf of a lender if necessary. Simpson also ruled that MERS' sole role as beneficiary did not split the Trust Deed from the loan note, as Idaho law allows assignment or transfer of loans.

""MERS' authority and duties as trust deed beneficiary was ruled valid and appropriate by this court as it has been in hundreds of similar lawsuits across the country,"" said Janis Smith, MERSCORP Holdings' VP for corporate communications. ""Struggling borrowers should contact the company to which they send their mortgage payments and also reach out to a government-approved homeownership counselor for assistance. Pursuing meritless legal theories regarding MERS is costly and time consuming.""

MERS is a national electronic database that tracks changes in servicing rights and beneficial ownership interest.