Maine Superior Court Denies Foreclosure Action Because Bank Failed to Strictly Follow Statutory Notice Requirement

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Foreclosures, Maine, MBS industry, MERS/Bank lacks standing.

In Bank of N.Y. Mellon v. McKenna, the Superior Court of Maine precluded a foreclosure action on a finding that the plaintiff bank failed to strictly follow the relevant statutory notice requirements. In 2007, defendant Robert McKenna (“McKenna”) bought a home in Maine with a mortgage for $245,000.00 from First Magnus Financial Corporation (“First Magnus”)… Read more »

District Court Rejects Claims That MERS Lacked Standing

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Maine, MERS/Bank has standing.

The court in deciding Pratt v. Bank of Am. NA, 2013 U.S. Dist. LEXIS 151671 (D. Me. 2013) granted Bank of America’s motion to dismiss. Plaintiff alleged that the existence of forged documents related to a mortgage loan and that MERS lacked standing to transfer the plaintiff’s deed to Bank of America. The plaintiff wanted… Read more »

Deutsche Bank Fails to Sufficiently Prove Ownership in Maine Supreme Judicial Court

Posted by & filed under 2013, Downstream litigation, Foreclosures, Maine, MERS/Bank lacks standing.

In Deutsche Bank Nat’l Trust Co. v. Wilk, 2013 ME 79, 76 A.3d 363 (Me. 2013), the Maine Supreme Judicial Court vacated a judgment of foreclosure for Deutsche Bank on appeal by homeowner for Deutsche Bank’s failure to show ownership of the mortgage. Wilk procured a loan from Luxury Mortgage Company in 2005 with MERS… Read more »

Maine Supreme Judicial Court Holds that a NonHolder in Possession of a Mortgage Can Initiate a Foreclosure Action

Posted by & filed under 2013, Downstream litigation by state, Foreclosures, Maine.

The state Supreme Judicial Court of Maine in Wells Fargo Bank, N.A. v. Burek, 2013 WL 5760946 (2013) held that Wells Fargo properly initiated a foreclosure action against two homeowners, even though the court found that Wells Fargo was not the actual mortgage holder under Maine real estate law. In the case, the Plaintiffs Kenneth… Read more »

Maine Court Upholds Summary Judgment in Favor of Bank

Posted by & filed under Downstream litigation, Maine, MERS/Bank has standing, Note ownership litigation.

In JPMorgan Chase Bank v. Harp, 10 A.3d 718 (Me. 2011), the court held that summary judgment in favor of the bank was proper, even though the Bank did not own both the mortgage and note when it filed its complaint.  Summary judgment was proper because the Bank had cured this defect at the time… Read more »

Maine Court Holds MERS Lacks Standing, Allows Bank to be Substituted to Prosecute the Foreclosure Action, but Overturns Bank’s Summary Judgment Motion Because of Flawed Procedure

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

In Mortgage Elec. Registration Sys., Inc. v. Saunders, 2 A.3d 289 (Me. 2010), the Supreme Court of Maine holds that (1) MERS lacks standing in the foreclosure action; (2) the substitution of the bank for MERS in the litigation was proper; and (3) summary judgment should not be granted. In 2006, Mortgagor executed a note… Read more »

Maine Court Vacates Summary Judgment Ruling in Favor of Bank in a Foreclosure Action Because Bank’s Affidavits Contained Irregularities

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

In HSBC Mortgage Services, Inc. v. Murphy et al., 19 A.3d 815 (Me. 2011), the court held that the district court erred by granting the Bank’s summary judgment, because the Bank’s affidavits contained “serious irregularities.” In 2005, a mortgagor executed a note and mortgage with Calusa Investments (“Calusa”). The mortgage identified Calusa as the lender… Read more »