Michigan Supreme Court overturns appeals court in MERS foreclosure case

The Michigan Supreme Court has reversed an appeals court ruling that had sent shockwaves throughout the Michigan real estate industry for the last few months. The Michigan Supreme Court said Wednesday that it is legal for Mortgage Electronic Registration Systems to foreclose by advertisement when a loan is defaulted.  In a 4-3 decision, the Supreme Court said MERS has a sufficient interest in the debt and, thus, acted properly under Michigan law.
 
MAR and its membership have been very interested in the outcome of this case ever since the appeals court ruling this past spring. Recognizing the importance of the case to the health of the Michigan's housing market, MAR's Legal Action Committee authorized an amicus brief urging the Supreme Court to take up the case for review this summer. Please see the attached Supreme Court Opinion for more details. MAR will be providing more information on this important decision as it becomes available.

Supreme Court opinion (PDF)

MCAR President Kathy Coon honors students for their exceptional effort

MCAR President Kathy Coon presented checks totaling $2,500 to Seneca Middle School for its first place finish in the School of Future Design Competition.  A team of students from Seneca designed a school in Detroit on the old Tiger Stadium site – a project so well received that it earned the effort top marks nationally.

“REALTORS® care about their communities, and we know that schools are an integral part of that,” said Coon. “That is why we are proud to recognize these students and their innovative ideas on how to create a more sustainable and environmentally friendly school. The School of Future Design Competition is just one way REALTORS® work to enhance their relationship with the local community and we are thrilled to support a competition that encourages creative learning and as well as smart building growth.”

The School of Future Design Competition is sponsored by the National Association of REALTORS® in partnership with the Council of Educational Facilities Planners, International. The competition encourages middle school students across the country to work in teams to design a school that will improve the learning environment and the facility’s energy efficiency, and is integral to the surrounding community. Each student team is required to submit a project model made from recycled materials, a short video or presentation, and a 750-word narrative description explaining the planning process and rationale behind their project.

Caption: MCAR President Kathy Coon (far left) and Interim CEO Steve Tschirhart (far right) flank members of the award-winning team of Seneca Middle School designers.