Ohio Court of Appeals Finds that BAC had Failed to Demonstrate that it had Standing to Accelerate the Note and Foreclose the Mortgage

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation media coverage, MERS/Bank has standing, MERS/Bank lacks standing, Note ownership litigation, Ohio.

The court in deciding BAC Home Loans Servicing, L.P. v. Blythe, 2013-Ohio-5775 (Ohio Ct. App., Columbiana County, 2013) reversed the lower court’s judgment. Appellant Walter J. Blythe appealed the lower court’s decision granting summary judgment in favor of Appellee, BAC Home Loans Servicing, L.P., in this foreclosure action. Blythe challenged the lower court’s finding that… Read more »

Appellate Court of Illinois Awarded Summary Judgment to Plaintiff Where Defendant Failed to Show That Plaintiff was an Unlicensed Debt Collector Under the Collection Agency Act

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation commentary, Downstream litigation media coverage, Illinois.

The Illinois court in deciding Kondaur Capital Corp. v. Sreenan, 2013 Ill. App. (Ill. App. Ct. 1st Dist. 2013) affirmed the judgment of the circuit court granting summary judgment for the plaintiff. In the summary judgment motion, the plaintiff asserted that it was the legal holder and in possession of the note at issue pursuant… Read more »

Appellate Court of Illinois Denies Defendants’ Motion for Presentment and Cause to Vacate Judgment was Misplaced and Had no Legal Significance

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Downstream litigation media coverage, Foreclosures, Illinois, MBS industry.

The Appellate Court of Illinois in deciding Deutsche Bank Nat’l Trust Co. v. Cole, 2013 IL App (2d) 130450-U (Ill. App. Ct. 2d Dist. 2013) held that the trial court properly confirmed a judicial sale, as the plaintiff had no obligation to produce the originals of the mortgage and the note. Moreover under the appropriate… Read more »

Hawaiian Court Finds That Foreclosure was Permissible on 1250 Oceanside

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Downstream litigation media coverage, Equity, Foreclosures, Hawaii, MBS industry, MERS/Bank has standing, MERS/Bank lacks standing.

The court in deciding In re 1250 Oceanside Partners, (Bankr. D. Haw., 2013) ultimately came to the conclusion that Oceanside was entitled to foreclose. The debtor in possession, 1250 Oceanside (Oceanside), sought to enforce a promissory note and foreclose a mortgage made by defendants Lawrence Shaw and Lisa Shaw (the Shaws). The other defendants claimed… Read more »

Tennessee Court Dismisses TILA, RICO, and RESPA Claims

Posted by & filed under 2013, Downstream litigation by date, Downstream litigation by state, Equity, Foreclosures, MBS industry, MERS/Bank lacks standing, Note ownership litigation, Regulation, Tennessee.

The Tennessee court in deciding Mhoon v. United States Bank Home Mortg., 2013 U.S. Dist. (W.D. Tenn., 2013) dismissed the complaint of the plaintiff pursuant to 28 U.S.C. § 1915(e)(2)(B)(ii). Plaintiff [Mhoon] filed a complaint against defendant U.S. Bank. This case was an action to prohibit a non-judicial foreclosure of real property. The complaint alleged… Read more »

Ohio Court Held That the Promissory Note was a Negotiable Instrument Subject to Relevant Provisions of R.C. Chapter 1303

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Equity, Foreclosures, MBS industry, Note ownership litigation, Ohio.

The court in deciding Bank of Am., N.A. v. Pasqualone, 2013-Ohio-5795 (Ohio Ct. App., Franklin County, 2013) ultimately decided that the motion to strike moot, thus this court affirmed judgment of the lower court. This court held that the promissory note was a negotiable instrument subject to relevant provisions of R.C. Chapter 1303 because it… Read more »

Ohio Court Reverses Summary Judgment in Favor of HSBC Bank

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Equity, MBS industry, Ohio.

The court in deciding HSBC Bank USA v. Teagarden, 2013-Ohio-5816 (Ohio Ct. App., Trumbull County, 2013) reversed the ruling for summary judgment in favor of HSBC Bank. Defendants-appellants, [Teagardens], appealed two judgment entries from the lower court, dismissing the Teagardens’ counterclaims and granting summary judgment in favor of plaintiff-appellee, HSBC Bank USA, National Trust Company…. Read more »