North Carolina Court Dismisses FDCPA and RESPA Claims

Posted by & filed under 2014, Downstream litigation, Downstream litigation by state, Downstream litigation commentary, North Carolina.

The court in deciding Champion v. Bank of Am., N.A., 2014 U.S. Dist. 78 (E.D.N.C., 2014) dismissed the plaintiff’s FDCPA and RESPA claims. Plaintiff initiated this action asserting claims for violations of the Fair Debt Collection Practices Act (“FDCPA”), the Real Estate Settlement Procedures Act (“RESPA”), and North Carolina statutory and common law. In response,… Read more »

North Carolina Court Dismisses Plaintiff’s Claims of Fraud Against MERS, Bank of America, & Trustee Services of Carolina

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

The court in deciding Porterfield v. JP Morgan Chase Bank, Nat’l Ass’n, 2013 U.S. Dist. LEXIS 152318 (E.D.N.C. 2013) dismissed plaintiff’s claims and granted the defendant’s motion to dismiss. Plaintiff asserted the following claims: (1) wrongful foreclosure; (2) fraud; (3) fraudulent misrepresentation; (4) fraud by use of MERS; (5) fraud through securitization; (6) promissory fraud;… Read more »

Court Holds That MERS Assignment, in Isolation, Could Not Prove Ownership

Posted by & filed under 2007, Downstream litigation, Downstream litigation by date, MERS/Bank lacks standing, North Carolina, Note ownership litigation.

The court deciding In Re Wilhelm (Case No. 06-51747) was faced with the issue of when actual notes prove that the note’s chain of ownership is unclear. In reaching their decision the court found that in such a situation, the MERS assignment could not, on its own, prove ownership of the note. The court in… Read more »

Eastern District of North Carolina Requires Homeowners to Allege Ability to Fully Tender Outstanding Balance of Loan to State a Claim for Rescission Under TILA, Dismisses All Other Claims

Posted by & filed under Downstream litigation, North Carolina, Note ownership litigation.

In Ward v. Sec. Atl. Mortg. Elec. Registration Sys., Inc., 858 F. Supp. 2d 561 (E.D.N.C. 2012), appeal dismissed (May 30, 2012) the Eastern District of North Carolina granted defendants’ motion to dismiss claims brought against them by borrowers for violations of the Truth In Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA)…. Read more »

North Carolina Appellate Court Finds for Home Owners, Concluding Bank Did Not Produce Sufficient Evidence of Assignment

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

In In re Adams, 204 N.C. App. 318, 693 S.E.2d 705 (2010) the Court of Appeals of North Carolina overturned the Superior Court and held that the alleged holder (Nationwide), while not required to present the original note and deed, was required to prove that the original note holder had transferred or assigned its interest… Read more »