REFinBlog

Editor: David Reiss
Brooklyn Law School

November 24, 2013

Supreme Court of New York Grants Plaintiff’s Motion to Dismiss and Denied Defendant’s Cross-Motion

By Ebube Okoli

The court in deciding Bank of N.Y. Mellon v Arthur, 2013 N.Y. Misc. LEXIS 4875, 2013 NY Slip Op 32625(U) (N.Y. Sup. Ct. Oct. 23, 2013) granted the plaintiff’s motion to dismiss and denied the defendant’s [Arthur] cross-motion. The Plaintiff … Continue reading

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November 24, 2013 in New York | Permalink | No Comments

September 25, 2013

Another Federal Judge Can’t Take It Anymore

By David Reiss

Magistrate Judge Brown (EDNY) issued a memorandum and order in Pandit v. Saxon Mortgage Services, Inc., CV 11-3935 (June 5, 2013) that reflects, to my mind, judicial frustration with mortgage industry companies.  This frustration arises, no doubt, from the many … Continue reading

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September 25, 2013 in New York | Permalink | No Comments

September 23, 2013

Deane Finds Us East of Eden

By David Reiss

Last week, I discussed a NYLJ article about the “Show Me The Note” argument in New York. The article discussed a recent case, Bank of N.Y. Mellon v. Deane, 2013 Slip Op. 23244 (Sup. Ct. Kings Country July 11, 2013). … Continue reading

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September 23, 2013 in New York | Permalink | No Comments

September 18, 2013

Show Me The Note, NY Style

By David Reiss

Steiner, Goldstein & Sohn published a short article in the New York Law Journal, Clearing The Confusion:  Misplaced Notes and Allonges (Sept. 18, 2012) (behind a paywall). While intended to address commercial real estate finance, it relies on an interesting … Continue reading

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September 18, 2013 in New York | Permalink | No Comments

August 28, 2013

U.S. District Court for the Eastern District of New York Rules That a Party Perfects its Security Interests in Disputed Loans by Taking Possession of the Notes as Opposed to Recording the Mortgage Assignments, Pursuant to UCC Article 9

By Alex Orchowski

In Provident Bank v. Community Home Mortgage Corp., 498 F.Supp.2d 558, 558 (E.D.N.Y. 2007) the U.S. District Court for the Eastern District of New York ruled in favor of intervenor-plaintiff NetBank, granting its cross motion for summary judgment against intervenor-plaintiff, … Continue reading

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August 28, 2013 in New York | Permalink | No Comments

August 20, 2013

MERS’ Assignments are Recognized as Valid as New York Appellate Court Overturns ‘N.Y. v. Alderazi’ & ‘LaSalle v. Lamy’

By Ebube Okoli

In the case of Bank of New York v. Eddie Sachar, et al., 95 A.D.3d 695 (2012), the court found the Bank of New York Mellon had standing to foreclose based on a MERS assignment and the delivery of the … Continue reading

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August 20, 2013 in New York | Permalink | No Comments

August 16, 2013

Stalled Foreclosures in NY Not a Violation of Federal Law

By David Reiss

Judge Townes (EDNY) dismissed a putative class action, Cole v, Baum, 11-cv-3779 (July 11, 2013), against notorious foreclosure mill Steven J. Baum, P.C. and its principal relating to their failure to submit filings that would have triggered mandatory settlement conferences … Continue reading

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August 16, 2013 in New York | Permalink | No Comments