Eastern District of California Dismisses Plaintiff’s Action, Thus Upholding Decision That Possession of Original Note is Unnecessary

Posted by & filed under 2008, California, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Foreclosures, MBS industry, MERS/Bank has standing.

The United States District Court for the Eastern District of California in Candelo et al v. NDEX West, LLC et al., No. CV F 08-1916 LJO DLB (E.D.Cal. 2008) dismissed the plaintiff’s action. In dismissing the plaintiff’s claims, the court upheld the decision that there was no requirement under the statutory framework for the mandatory… Read more »

Florida Court Dismisses Class Action to Declare MERS in Violation of Florida Consumer Protection Laws

Posted by & filed under 2008, Downstream litigation, Florida, MERS/Bank has standing.

The debtors in Trent v. MERS, 288 Fed. App’x 571 (11th Cir. 2008) argued that Mortgage Systems sent them deceptive notices that were in violation of section 559.72(9) of the Collection Act. The debtors further argued that the notice misidentified Mortgage Systems as their “creditor.” Lastly, the debtors alleged that the lower court should have… Read more »

Ohio Bankruptcy Court Rules in Favor of Wells Fargo: Failure to Properly Record Mortgage Assignment Does Not Invalidate Mortgage

Posted by & filed under 2008, Downstream litigation, Ohio.

In In re Williams, 395 B.R. 33 (Bankr. S.D. Ohio 2008), the Ohio Bankruptcy Court granted the defendant, Wells Fargo Bank, N.A.’s motion to dismiss the Plaintiff’s complaint, holding that mortgage assignments must be recorded under Ohio law, but that failure to do so does not terminate the underlying mortgage. Additionally, the Trustee could not… Read more »

Massachusetts Bankruptcy Court Denies Motion for Relief from Stay

Posted by & filed under 2008, Bankruptcy litigation, Massachusetts, Note ownership litigation.

In In Re Hayes, 393 B.R. 259, 261-62 (Bankr. D. Mass. 2008), the Debtor, Hayes, filed a voluntary Chapter 13 petition involving property encumbered by a mortgage, which secured an adjustable rate note. The note and mortgage identified Argent Mortgage Company, LLC as the Lender.  AMC Mortgage Services then filed a proof of claim and… Read more »

Ohio Bankruptcy Court Holds that Incomprehensible Payment Histories Evidence Defective Procedures

Posted by & filed under 2008, Bankruptcy litigation, Ohio.

In In re Cartier, No. 04-15754 (Bankr. N.D. Oh. June 18, 2008),the Bankruptcy court found that the payment history was incomprehensible and that procedures were not followed. There was an order on MERS, through an officer, to appear and show cause, and the show cause related to a defective motion for relief from stay that was… Read more »

United States District Court in California Holds that MERS “Assignee” Lacked Standing Because no Evidence Showed MERS held the Note

Posted by & filed under 2008, California, Downstream litigation, MERS/Bank lacks standing.

In Saxon Mortg. Services, Inc. v. Hillery, C-08-4357EMC, 2008 WL 5170180 (N.D. Cal. Dec. 9, 2008), the United States District Court, in the Northern District of California granted Hillery’s motion to dismiss because Saxon Mortgage Services, Inc., lacked standing. Hillery obtained a loan from New Century Mortgage. A deed of trust for Hillery’s home secured repayment… Read more »