Federal District Court of Nevada Dismisses Homeowners’ Lawsuit Against Banks for not Pleading Enough Facts

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Foreclosures, MBS industry, Nevada.

In October 2013, the Federal District Court of Nevada in Prince v. Loop Capital Markets, LLC held that Plaintiff homeowners had failed to plead enough facts in their complaint against Defendants Wells Fargo Bank, N.A. and Bank of America, N.A. and dismissed Plaintiffs’ complaint with prejudice. In August 2009, Thomas Prince and, his wife, Sarah… Read more »

Nevada Court Dismisses TILA and Fraud Claims Brought Against Chase and MERS

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

The court in deciding Leong v. JPMorgan Chase, 2013 U.S. Dist. LEXIS 144678 (D. Nev. 2013) ultimately granted the defendant’s motion to dismiss. This action arose out of the foreclosure proceedings initiated against the property of the plaintiff Teresa Leong. Defendants Chase and MERS filed a motion to dismiss plaintiff’s action. Plaintiff alleged two causes… Read more »

Nevada Court Dismisses Show-me-the-Note Action Brought Against Chase and MERS

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

The court in Leong v. JPMorgan Chase, 2013 U.S. Dist. LEXIS 144678 (D. Nev. Oct. 7, 2013) granted defendants’ motion to dismiss. This action arose out of the foreclosure proceedings initiated against the property of pro se Plaintiff Teresa Leong. Pending before the court was a motion to dismiss filed by defendants JPMorgan Chase Bank,… Read more »

Nevada Court Found Plaintiff’s Claim for Quiet Title Failed as a Matter of Law Based on Statute’s Express Language

Posted by & filed under 2013, Brooklyn Law School, Downstream litigation, Downstream litigation by state, Foreclosures, Nevada.

The court in dealing with Beverly v. Weaver-Farley, 2013 U.S. Dist. LEXIS 146150 (D. Nev. 2013) ultimately dismissed the plaintiff’s claims. In her complaint, plaintiff alleged that pursuant to NRS 116.3116(2)(b), Wells Fargo’s first deed of trust was extinguished by the HOA’s foreclosure and sale of the underlying property. The court found that, the first… Read more »

Lower Court’s Grant of Summary Judgement Affirmed by Nevada Court

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Foreclosures, MBS industry, Nevada.

The court in deciding Castro v. Bank of N.Y. Mellon, 2013 Nev. LEXIS 1602 (Nev. 2013) affirmed the lower courts judgment against the plaintiff. Plaintiff obtained a home loan from Decision One Mortgage Company, LLC and executed a promissory note in favor of Decision One. The note was secured by a deed of trust naming… Read more »

United States District Court Dismisses Plaintiff’s Intentional Misrepresentation and Negligent Misrepresentation Claims

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

The court in Hoffman v. Goldman, Sachs & Co., 2013 U.S. Dist. LEXIS 155092, 2013 WL 5797623 (D. Nev. Oct. 28, 2013) dismissed both of the plaintiff’s intentional misrepresentation and negligent misrepresentation claims. Plaintiffs asserted two claims in their complaint: intentional misrepresentation and negligent misrepresentation. In regards to the first claim, the court found that… Read more »

Nevada District Court Holds that MERS Has Power to Start Foreclosure Action on Behalf of Lender

Posted by & filed under 2011, Downstream litigation, Downstream litigation by state, Foreclosures, Nevada.

The federal district court of Nevada in Smith v. Community Lending, 773 F.Supp.2d 941 (D.N.V. 2011), held that MERS properly started a foreclosure action on behalf of the lender, Community Lending, Inc., because it found that MERS acted within the scope of its authority as Community Lending’s agent in the foreclosure. In this case, the court consolidated… Read more »