advantage accrues almost exclusively to financial institutions, and that the MERS System has a number of disadvantages: It has substantially undermined what had been a comprehensive, stable, and relatively reliable public system of recording interests in residential real estate. Ownership of notes for residential loans that are processed through the MERS System is now recorded in the System’s electronic database, but that information is not available to the general public. It is impo 6 P.3d 158, 166-67 (2009) (“[I]n the event that a mortgage loan somehow separates interests of the note and the deed of trust, with the deed of trust lying with some independent entity, the mortgage may become unenforceable.”); Mortg. Elec. Registration Sys., Inc. v. Saunders, 2 A.3d 289, 297 (Me.2010) (<HOLDING>); CPT Asset Backed Certificates, Series
holding that mers may be a beneficiary as nominee for the lender that assignments of the deed of trust between mers members need not be recorded that mers was not liable to the borrower in negligence and that the idaho consumer protection act did not provide a cause of action to the borrower holding that mers was not the beneficiary of a deed of trust under the oregon trust deed act absent conveyance to mers of the beneficial right to repayment and that mers could not hold or transfer legal title to the deed as the lenders nominee holding that mers lacked standing to foreclose as the lenders nominee holding that plaintiffs lacked standing to sue holding that the putative noteholder lacked standing to foreclose because mers lacked authority to assign the note though it arguably had authority to assign the mortgage