NJ, might consider: More can be found at http://www.scribd.com/alviec and at trilliondollarfubar.com or ourlemon.com if updated timely.
The Many State(s) Law
Does it matter if it is a mortgage (title theory) “or” a deed of trust (lien theory)? Could it matter that an alleged lender is under a federal charter (National Bank, agent, trustee, or etc...) and not a resident of a state? Bet you jurisdictional security it could matter.
True, a lien theory state allow(s) for actions to be taken outside of the eyes of the court. True, a title theory state requires the eyes of the court.
Here arises a question, how serious depend(s), does having a federal charter giving a right to operate a business in a state equate to having residence status to invoke a court(s) jurisdiction.
For those in a deed of trust state to prevent illegal action(s) requires filing of a suit. This filing of the suit allows the federal charter entity to voluntarily submit to the court personal jurisdiction.
As personal jurisdiction and subject matter jurisdiction has been achieved by the court, the federal charter entity has now a right to jurisdiction under the court and can request relief be granted by the court.
Whereas in a title theory state for the federal charter entity not having standing as a non residence has no rights to bring an action before the court.
However, if a plaintiff brings the federal charter (defendant) entity into any court action, standing as to personal jurisdiction has established as to both plaintiff and defendant. Subject matter jurisdiction is applicable when both parties claim rights.