The Superior Court of New Jersey, Appellate Division, Finds That Wells Fargo Had Standing to File Foreclosure Action

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

The Superior Court of New Jersey, Appellate Division, in deciding Wells Fargo Bank, N.A. v. Garner, 2013 N.J. Super. LEXIS 2648, 2013 WL 5827033 (App.Div. Oct. 31, 2013) affirmed the lower court’s decision and dismissed motions to vacate the judgment of foreclosure. Defendant argued that plaintiff, Wells Fargo Bank, N.A., lacked standing to file the… Read more »

Shadowed by the Shadow Inventory

Posted by & filed under Downstream litigation commentary, Foreclosures, New Jersey, Statistical studies.

My former colleague at Seton Hall, Linda Fisher, has posted Shadowed by the Shadow Inventory:  A Newark, New Jersey Case Study of Stalled Foreclosures & Their Consequences on SSRN. The paper presents the findings of a small, but interesting empirical study.  The study “tests the extent to which bank stalling has contributed to foreclosure delays… Read more »

No Scarlet Letter for Robo-Signing

Posted by & filed under 2013, Downstream litigation, New Jersey, Note ownership litigation.

An “admitted robo-signer” and her bank were let off the hook in Grullon v. Bank of America et al.  (Mar. 28, 2013, No. 10-5427 (KSH) (PS)) (D.N.J.). (19)  Grullon, a homeowner, alleged that he, and others similarly situated, was entitled to relief under New Jersey’s Consumer Fraud Act because of BoA’s “bad practices, including: robo-signing,… Read more »

Appellate Division of New Jersey Finds Deutsche Bank Did Not Have Standing to Foreclose Under NJSA 12A:3-301

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

In Deutsche Bank Nat. Trust Co. v. Mitchell, 422 N.J. Super. 214, 27 A.3d 1229 (App. Div. 2011) the Appellate Division of New Jersey reversed the trial court’s grant of summary judgment to plaintiff/Deutsche Bank. In doing so, the court found that Deutsche Bank did not prove it had standing at the time it filed… Read more »

New Jersey Superior Court Dismisses Foreclosure Suit, Requiring Physical Possession of Note & Mortgage at Time of Filing

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

In Bank of New York v. Raftogianis, 418 N.J. Super. 323, 13 A.3d 435 (Ch. Div. 2010) the Superior Court of New Jersey, Chancery Division, Atlantic County, found that although the lender had not separated the note and mortgage through the securitization process, there was insufficient evidence that the trustee had physical possession of the… Read more »

New Jersey Appellate Division Affirms Aurora Loan Servicing’s Foreclosure Judgment, Rejecting Homeowners’ “Exceptional Circumstances” Argument

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

In Aurora Loan Services, LLC v. Pagano, A-3887-10T1, 2011 WL 6153634 (N.J. Super. Ct. App. Div. Dec. 13, 2011) the Appellate Division of the Superior Court of New Jersey, Atlantic County, affirmed the denial of defendant/homeowners’ motion to vacate their default judgment of foreclosure. Michael and Janet Pagano had first executed their note and mortgage… Read more »

New Jersey Appellate Division Finds Bank of New York Does Not Have Standing to Prosecute Foreclosure Action

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

quick cash loans $10000 In Bank of New York As Tr. For Certificate Holders CWABS, Inc. v. Cupo, A-1212-10T2, 2012 WL 611849 (N.J. Super. Ct. App. Div. Feb. 28, 2012) the Appellate Division of the Superior Court of New Jersey ruled in favor of homeowner Alexander Cupo’s motion challenging the propriety of Bank of New… Read more »