Updated May 29 at 5:29pm

Recording fee class- action suit dismissed

RESTON, Va. – Merscorp Holdings Inc. last week announced that a U.S. District Court judge has ruled in favor of Merscorp Holdings Inc., Mortgage Electronic Registration Systems Inc. and other member-bank defendants in a Rhode Island recording-fee suit. More

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Recording fee class- action suit dismissed

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RESTON, Va. – Merscorp Holdings Inc. last week announced that a U.S. District Court judge has ruled in favor of Merscorp Holdings Inc., Mortgage Electronic Registration Systems Inc. and other member-bank defendants in a Rhode Island recording-fee suit.

Judge John J. McConnell Jr. dismissed a class-action suit filed by the town of Johnston on its own behalf and on behalf of all other similarly situated Rhode Island cities and towns. Allegations included violations of Rhode Island’s recording requirements and unjust enrichment. Both counts were dismissed.

“Rhode Island law does not require that all mortgages and mortgage assignments be recorded,” Judge McConnell wrote in his decision. “Absent a statutory requirement to record, there are no damages, and, therefore there is no cause of action.”

Rhode Island courts have “consistently upheld MERS valid role and authority,” MERSCORP Holdings’ Director of Corporate Communications Jason Lobo said in a statement. “This ruling mirrors similarly dismissed recorder-fee lawsuits brought by counties in North Carolina, Iowa, Florida, Arkansas, Illinois, Missouri and Kentucky.” •

28~15, 071513 Rhode Island & Massachusetts News Briefs, financial services, real estate¸ Merscorp Holdings Inc, Merscorp Holdings Inc., , 28~15, issue071513export.pbn

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