MERS v. Nebraska Dept of Banking, 270 Neb 529, 704 Nw2nd 784, 2005

270 Neb. 529 (Neb. 2005) ,704 N.W.2d 784, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, Inc., appellant, v. NEBRASKA DEPARTMENT OF BANKING AND FINANCE, appellee., No. S-04-786. Supreme Court of Nebraska Oct. 21, 2005 [704 N.W.2d 785] Case involving whether MERS was a "Mortgage Banker" and required to be licensed as such under Nebraska law. Some interesting statements out of the decision; "MERS argues that it does not own the promissory notes secured by the mortgages and has no right to payments made on the notes." "MERS has no independent right to collect on any debt because MERS itself has not extended credit, and none ofthe mortgage debtors owe MERS any money."