Niday v. GMAC Mortgage, LLC

This case, one of first impression in the Oregon appellate courts, involves the intersection between Oregon’s nonjudicial foreclosure laws and a creature of more modern vintage: Mortgage Electronic Registration Systems, Inc., also known as MERS. Since 1959, the Oregon Trust Deed Act has authorized the use of trust deeds as security for home loans and allowed foreclosure of a defaulting homeowner’s interest by means of a privately conducted, advertised trustee’s sale of the home rather than pursuant to a court-ordered, judicial foreclosure — provided, however, that certain statutory…