Monthly Archives: January 2013

United States District Court in California Denies Plaintiff’s Motion for Temporary Injunctive Relief, Allowing Non-Judicial Foreclosure

January 31, 2013

by Robert Huberman

In Chilton v. Fed. Nat. Mortg. Ass’n, 1:09-CV-02187 OWW SM, 2009 WL 5197869 (E.D. Cal. Dec. 23, 2009), the United States District Court, in the Eastern District of California denied Chilton’s motion for temporary injunctive relief. Chilton filed a complaint … Continue reading

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Rhode Island Court Denies Plaintiff’s Claim to Invalidate Foreclosure Sale

by Karl Dowden

In Porter v. First NLC Financial Services LLC, No. PC 10-2526 (R.I. Sup. March 31, 2011), the plaintiff challenged the validity of a foreclosure sale conducted by MERS. The defendant’s motion for summary judgment was addressed in this opinion. The … Continue reading

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FDIC Lawsuit against Bank Directors

by David Reiss

The FDIC has filed a lawsuit (hat tip LaCroix by way of April Charney) against the officers and directors of a small bank in New Mexico alleging negligence, gross negligence and breaches of fiduciary duties.  The FDIC alleges that the … Continue reading

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Rhode Island Superior Court Addresses Challenged to MERS

January 30, 2013

by Karl Dowden

One of the earliest opinions addressing challenges to MERS in Rhode Island is Bucci v. Lehman Bros. Bank, No. PC-2009-3888 (R.I. Sup. August 25, 2009). The plaintiff challenged MERS’s standing to foreclose on their house following the plaintiff’s default on … Continue reading

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Strategies to Improve the Housing Market

by David Reiss

Boston Consulting prepared this Strategies to Improve the Housing Market report on behalf of The Pew Charitable Trusts.  The report focuses “on practical solutions that can readily be implemented by industry, agencies, and regulators working within existing mandates, or by … Continue reading

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New York Appellate Court Holds that Bank Lacks Standing to Bring Foreclosure Action if it did not Own the Mortgage Note and Mortgage on the Date it Commenced the Foreclosure Suit

January 29, 2013

by Rachel Sherman

In Wells Fargo Bank, N.A. v. Marchione, 69 A.D.3d 204 (N.Y. App. Div. 2d Dep’t 2009), the New York Supreme Court, Appellate Division, Second Department held that an assignee of a note and a mortgage does not have standing to commence … Continue reading

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Court in Suffolk County New York Holds that Bank that Held Note and Mortgage by Way of Assignment from the Original Lender and MERS had Standing in Foreclosure Action

by Rachel Sherman

In US Bank N.A. v. Flynn, 27 Misc.3d 802 (N.Y. Sup. Ct. 2010), the Supreme Court of New York, Suffolk County, granted a motion by plaintiff US Bank for partial summary judgment and for dismissal of defendant’s affirmative defenses and … Continue reading

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