Ohio Court of Appeals Holds that Countrywide Home Loans has Standing to Bring a Foreclosure Action

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Florida, Foreclosures, MBS industry, MERS/Bank has standing, Note ownership litigation.

On October 25, 2013, the Ohio Court of Appeals in Countrywide Home Loans v. Montgomery held that the Plaintiff had standing to initiate a foreclosure action since it was the party in interest at the time the suit was commenced. In 2004, Robert Montgomery (“Montgomery”) bought a home in Ohio with a mortgage from Keybank…. Read more »

Florida Appeals Court Holds that Service Agent of Bank has Standing to Initiate Foreclosure Action

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Florida, Foreclosures, MBS industry, MBS offering materials and documents, MERS/Bank has standing, Note ownership litigation.

On October 13, 2013, the Florida District Court of Appeals in American Home Mortgage Servicing, Inc. v. Bednarek held that a servicing agent of a larger bank had standing to file a foreclosure action against a homeowner because it properly acquired the mortgage and was therefore the note holder and owner for the purposes of… Read more »

Florida Appellate Court Holds that Mortgagee is not Required to be the Mortgage Holder and Owner to have Standing for Foreclosure Action

Posted by & filed under 2013, Downstream litigation, Florida, Foreclosures.

The District Court of Appeal of Florida in Wells Fargo Bank, N.A., v. Morcom, 2013 WL 5575634 (Fl. Ct. App., 5th Dist. 2013), held that mortgagee was not required to be both holder and owner of promissory note in order to have standing to foreclose. On August 6, 2010, Wells Fargo Bank (“Plaintiff”) initiated a foreclosure… 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 »

Florida Court Dismisses Class Action Against MERS Over Unpaid Recording Fees

Posted by & filed under 2012, Downstream litigation, Florida, Foreclosures, MERS/Bank has standing.

The court in Fuller v. MERS, No. 11cv-1153 (M.D. Fla., June 27, 2012) was “confronted with an old problem: the difficulty of reconciling new technology with old law, thus raising the centuries old separation of powers controversy.” In deciding this case the court found that the Florida statute, which created the recording system, was a… Read more »

Florida Appellate Court Reverses Summary Judgment in Favor of Bank in Foreclosure Action Because of Issues of Fact as to Whether Bank Had Standing to Foreclose

Posted by & filed under 2010, Downstream litigation, Florida, Note ownership litigation.

In BAC Funding Consortium Inc. ISAOA/ATIMA v. Jean-Jacques, 28 So.3d 936 (2010), the Second District Court of Appeal of Florida (“Court”) reversed the trial court’s entry of summary judgment in favor of a bank in a foreclosure action because a genuine issues of material fact existed as to whether the bank had standing to foreclose…. Read more »