What about other members of the public who saw the public record (relying upon it in good faith to be an accurate representation of title matters).  Any of those individuals are potential investors in the property.

   Upon realizing that MERS never properly conveyed (by assignment) the beneficial interest in the note, they would and could have chosen to NOT pursue an otherwise viable lot as a fair investment opportunity.  As such, they were disenfranchised by the system.  What remedy do they have for their good faith, good will reliance upon the constructive public notice which is constituted by the public record?  None, if the only claimant with a valid right was Rodriguez.  This is an affirmation of the integrity of public records as a market mechanism that offers reliable, accurate title that can be ensured. 

 How is Bevilacqua's claim a freehold in the property if it is under color of authority?  A action to clear a cloud on the title could certainly overcome the coloration, but a semblance of a right is not the same as a Common Law freehold in most States and Commonwealths.