Michigan District Court Dismisses Homeowner’s Action to Declare Foreclosure Null and Void

Posted by & filed under 2012, Downstream litigation, Michigan.

In Olesuk v Fed. Natl. Mort. Assoc., 2:12-cv-11001 (Dist. Ct. Mich. 2012), the court dismissed an action by homeowners against the parties involved in the multiple assignments of their mortgage, including MERS (Defendants). Homeowners brought the action after defaulting on their mortgage, seeking a declaration that the foreclosure action brought by the mortgagee be declared… Read more »

Ohio Court of Appeals Holds that Execution of Mortgage Assignment is Sufficient to be a Real Party in Interest

Posted by & filed under Downstream litigation, MERS/Bank has standing, Ohio.

In BAC Home Loans Servicing, L.P. v. Hall, 2010-Ohio-3472 (Ohio Ct. App. 2010), the Ohio Court of Appeals reviewed the sole question of whether the bank in this case had standing to foreclose. The homeowners argued that the bank “was not the real party in interest and therefore lacked standing to initiate the foreclosure action… Read more »

Massachusetts District Court Holds that MERS, as Mortgagee and Nominee for Lender, has Authority to Assign Mortgage

Posted by & filed under Downstream litigation, Downstream litigation by state, Massachusetts, MERS/Bank has standing.

The court in Rosa v. Mortg. Elec. Sys., Inc., 821 F. Supp. 2d 423 (D. Mass. 2011) held that the assignee bank had standing to foreclose on the homeowners. The homeowners argued that the bank did not have standing because MERS lacked authority to assign the mortgage. They made several arguments as to why MERS… Read more »

Ohio Court of Appeals Holds that the Note Follows the Mortgage Where Intent of Parties is Clear

Posted by & filed under Downstream litigation, Downstream litigation by state, MERS/Bank has standing, Ohio.

In Bank of New York v. Dobbs, 2009-Ohio-4742, the court found that the Bank of New York (Bank) had standing to bring a foreclosure action against the homeowners. In this case, Countrywide Home Loans (Countrywide) was the original note holder, and Bank claimed that Countrywide assigned the note to MERS, who then assigned to Bank…. Read more »

Massachusetts Superior Court Holds that Assignee of Residential Mortgage Backed Securities has Standing to Seek Statutory Damages

Posted by & filed under Investor lawsuits, Upstream litigation.

In Cambridge Place Inv. Mgmt., Inc. v. Morgan Stanley & Co., No. 10-2741-BLS1, 2012 WL 5351233, at *20 (Mass. Super. Ct. Suffolk Co. Sept. 28, 2012), the Superior Court of Massachusetts held that Cambridge Place Investment Management, Inc. (CPIM), as assignee of residential mortgage backed securities, had standing to seek damages under the Massachusetts Uniform… Read more »

Massachusetts Supreme Court Holds that Bank Lacks Standing to Bring SCRA Claim Against Homeowner

Posted by & filed under Downstream litigation, Massachusetts, MERS/Bank lacks standing.

In HSBC Bank USA, N.A. v. Matt, 464 Mass. 193 (2013), the Supreme Court of Massachusetts found that HSBC Bank USA, N.A. (HSBC) lacked standing to proceed with its claim against the homeowner in a servicemember proceeding. HSBC initially filed a complaint in the Land Court under the Massachusetts Soldiers’ and Sailors’ Civil Relief Act… Read more »

Ohio Court of Appeals Holds that MERS, as Mortgagee, has Standing to Foreclose Despite Lacking a Beneficial Interest in the Note

Posted by & filed under Downstream litigation, Downstream litigation by state, MERS/Bank has standing, Ohio.

In Mtge. Electronic Registration Sys., Inc., v. Mosley, 2010-Ohio-2886, the Court of Appeals of Ohio held that MERS had standing to foreclose on the homeowners. The court found that language in the mortgage naming MERS as nominee, as well as a provision explicitly giving MERS the right to foreclose on the property, was sufficient to… Read more »