MERS Granted Motion for Summary Judgment in Texas Court; Lien Reinstated

first_img  Print This Post in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / MERS Granted Motion for Summary Judgment in Texas Court; Lien Reinstated MERS Granted Motion for Summary Judgment in Texas Court; Lien Reinstated A district court in Collin County, Texas, granted a motion for summary judgment in the favor of MERSCORP Holdings on Wednesday, according to an announcement from MERS.The court also reinstated the MERS lien on the property, finding the lien to be “in full force and effect.” MERS was seeking to reinstate a lien which it claims was improperly extinguished by defendant Kingman Holdings in the case of Mortgage Electronic Registration Systems, Inc. v. Kingman Holdings, Inc. The lien was previously extinguished by Kingman in a quiet title action. MERS contended that their due process rights under both the Texas and U.S. Constitutions were violated when Kingman did not provide MERS, as record beneficiary of the deed of trust, with notice or make MERS a party to Kingman’s action that sought to extinguish the MERS lien.Presiding Judge Scott J. Becker voided the prior judgment that went in Kingman’s favor and reinstated the MERS lien, stating that the MERS deed of trust creates a “valid, subsisting, and enforceable lien” on the property, according to MERS. The judge also ruled that the MERS deed of trust is senior to any Kingman interest and he awarded MERS and MERSCORP Holdings with attorney’s fees and costs associated with prosecuting the case.”This ruling is consistent with case law in numerous states that has determined that MERS has a right to service of process.””This judgment once again confirms that as record mortgagee or beneficiary on security instruments MERS is entitled to notice of all proceedings affecting the real property encumbered by the MERS lien,” MERSCORP Holdings VP for Corporate Communications Janis Smith said. “This ruling is consistent with case law in numerous states that has determined that MERS has a right to service of process.”This is the third major court victory for MERS in the space of a month. In mid-August, the U.S. District Court for the Middle District of Tennessee Nashville Division dismissed a lawsuit that challenged MERS’ role in a deed of trust in Tennessee. In early August, MERS was awarded a victory inU.S. Court of Appeals for the Third Circuit, which ruled that MERS was not duty-bound by the Pennsylvania recording statute to record all land conveyances. Previous: Most Fed Districts Report Positive Residential Real Estate and Economic Activity Next: DS News Webcast: Thursday 9/3/2015 About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago September 2, 2015 1,005 Views Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago MERS MERSCORP Holdings Property Liens Texas 2015-09-02 Brian Honea Tagged with: MERS MERSCORP Holdings Property Liens Texas Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

IDC Analyst to VCE Technologist

first_imgThree months ago I joined VCE after working as a research director and industry analyst at IDC, leading IDC Australia’s research teams. For six years as an IDC analyst, I had the opportunity to peer inside leading tech vendors (including VCE), listen to their strategic direction and challenge their rationale behind various go-to-market strategies. After several years of research it became clear that the IT industry is set for what I termed ‘multidimentional transformation,’ where change occurs beyond the technology sphere and into the business itself.Each year at IDC I would conduct research into the C-suite including the function of the CIO and noticed that over the past few years, the importance of the infrastructure stack became more critical. Prior to the global financial crisis, improving or modernizing IT infrastructure wasn’t in their top 10 priorities. However, as the financial crisis expanded, CIOs appeared to sweat their assets for longer. This was validated by corroborating research that showed prolonged PC and server lifecycles. The significance of this is that as infrastructure ages, it becomes less reliable and more expensive to run so it made sense that infrastructure became a higher priority. However, as the financial crisis passed, the CIO’s focus on infrastructure continued to increase – and fast-forwarding to today, improving or modernizing IT infrastructure is now a CIO’s No. 1 priority. If the financial crisis didn’t explain the increase, what did?One correlation is the influence of the line of business in IT decisions, which rose with the importance of IT infrastructure. It seems that the line of business was making ever increasingly stringent demands to IT and the CIO, which in turn exerted more pressure on the infrastructure layer.Wrapped around all these new demands from the line of business came the new watchword: velocity. The market demanded rapid application implementation and streamlined automation. Current infrastructure constrained velocity, so CIOs began to focus on the infrastructure layer to quickly provide new business solutions.“Looking at IT today, it’s fair to say that at a macro level, infrastructure has gone to hell in a handbasket. To grasp how this has occurred, it’s helpful to look to the past to see how we managed infrastructure in the mid-90s.ShareIn the 90s, the cost of management (including staffing) was a percentage of what we spent on our server hardware. Fast-forward to today, the scenario has flipped. Management of the server fleet now costs a multiple of what we spend on acquiring it – management costs are rampant and spiraling out of control.So what happened? We need to look beyond the physical installed base of servers towards the logical. It’s ironic that the technology that was meant to reduce costs and simplify infrastructure, was actually one of the catalysts behind the crush we are now experiencing: server virtualization.The impact of virtualisation was that we started to buy fewer servers. This fundamental shift saw a tapering of overall server unit shipments, but this was off-set by a rapidly growing number of logical servers. As we deployed more logical servers, the cost of management soared and the problem was that we continued to manage our logical servers the same way the managed physical servers; we didn’t change our IT operations to match the new capability.Today we spend $8 on management for every $1 we spend on the server hardware itself1. What’s even more disturbing is that the data for the server market can be replicated for the storage and networking markets too. Something needs to change.It should be little wonder then that the market for true converged infrastructure (CI) is booming as CI solves many critical management issues that reference architectures and traditional approaches do not. While the general server market remains flat, IDC market research showed integrated infrastructure and platforms sales increased 50% year over year 2. And within this growing market segment, it’s VCE that leads (according to both Gartner and IDC), with Gartner’s latest report showing VCE as leading with over 50% market share.3The strategy for most IT converged infrastructure vendors is to try and save their clients 10c or even 15c from the $1 they spend on acquiring hardware. VCE on the other hand targets the other side of the equation (where the meaningful savings are made) and aims to save clients $4 instead of 10 or 15 cents. In fact the saving is 68% according to an IDC study into VCE customers, which is actually $5.44 saved from the $8 spent.4The benefits to the business don’t start and stop with increased efficiency and decreased costs – two of the CFO’s favorite things. The lack of velocity is one of the leading reasons that the lines of business bypass IT altogether. Research into VCE deployments by IDC has shown measurable reductions in the time to stand up infrastructure, from 160 days to 45 days. Additionally, research has shown a 79% reduction in the internal IT staff time to configure, test and deploy the infrastructure.4As an IT analyst, it was clear that converged infrastructure is the future and VCE is leading the expanding market. But it is the way that VCE approaches the market that truly impressed me. VCE simultaneously solves critical technical and business challenges in such a different way from competitors that the value proposition is unique.It’s not often that a company strategy and offering intersects so perfectly with an expanding marketplace. Joining VCE and being part of the transformation wave that is sweeping the industry was enough to lure me away from the world of the industry analysis.1: IDC, Virtualization And Multicore Innovations Disrupt The Worldwide Server Market, Doc #206035, March 20072: IDC Worldwide Integrated Infrastructure & Platforms Tracker, October 2, 20133: Gartner, Market Share Analysis: Data Center Hardware Integrated Systems, December 12, 20134: IDC Whitepaper: Converging the Datacenter Infrastructure: Why, How, So What?, DOC #234553 May 2012last_img read more