United States District Court Rejects Show-me-the-Note Theory and SpIit-the-Note Theory Claims

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation media coverage, Equity, MERS/Bank has standing, Note ownership litigation, Texas.

In deciding McWright v. Bank of Am., N.A., 2013 U.S. Dist. LEXIS 180500 (N.D. Tex. Nov. 7, 2013) the United States District Court for the Northern District of Texas rejected the plaintiff’s claims. In her complaint, plaintiff raised the following causes of action: (1) violation of the federal Fair Debt Collection Practices Act, (2) Negligence,… Read more »

Federal Court of Appeals for the Fifth Circuit Holds that Successor Note Holder had Proper Authority to Initiate Foreclosure Under Texas State Law

Posted by & filed under 2013, Brooklyn Law School, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Foreclosures, MBS industry, MERS/Bank has standing, Texas.

Federal Court of Appeals for the Fifth Circuit Holds that Successor Note Holder had Proper Authority to Initiate Foreclosure Under Texas State Law In Hall v. BAC Home Loans Servicing, L.P., the United States Court of Appeals for the Fifth Circuit rejected a homeowner’s challenge to a foreclosure action finding that the note holder had… Read more »

Texas Court Dismisses Action Claiming Fraud in Concealment, Fraud in Inducement, Quiet Title, & Rescission

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Foreclosures, MBS industry, Note ownership litigation, Texas.

The court in deciding Diaz-Angarita v. Countrywide Home Loans, Inc., 2013 U.S. Dist. LEXIS 147091 (S.D. Tex. 2013) eventually dismissed the plaintiff’s claims. Plaintiff asserted causes of action for “fraud in the concealment,” fraud in the inducement, to quiet title, and for rescission. Defendants moved to dismiss. In claims one and seven, plaintiff sought a… Read more »

Texas Court Found That There Was no Gap in Chain of Title

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Equity, Foreclosures, Texas.

The court in deciding Acosta v. Fannie Mae, 2013 U.S. Dist. LEXIS 148066 (S.D. Tex. 2013) found that Under Section 51.0025 of the Texas Property Code, BOA had standing to foreclose as servicer of the loan. Plaintiff asserted numerous claims arising from the foreclosure of his property. The court found that the plaintiff had offered… Read more »

Texas Court Finds Plaintiff’s “Split-the-Note” Theory Without Merit

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

The court in deciding Morlock, L.L.C. v. JPMorgan Chase Bank, N.A., 2013 U.S. Dist. LEXIS 153386 (S.D. Tex. Oct. 25, 2013) ultimately dismissed plaintiff’s bifurcation theory based complaint. Plaintiff alleged that the deed of trust had been “executed and delivered . . . to secure MERS” and that it “was allegedly assigned to defendant Chase by… Read more »

Texas Court Finds That MERS Had Authority to Assign, Thus Defendant Could Enforce Note

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

The plaintiff in Hines v. Wells Fargo Bank, N.A., 2013 U.S. Dist. LEXIS 153895 (S.D. Tex. Oct. 28, 2013), contended that defendants could not show an unbroken chain of title to enforce the note because MERS had no authority to assign the note to Deutsche Bank. However, the court eventually dismissed the plaintiff’s claims with… Read more »

Texas Court Dismisses Plaintiff’s Wrongful Foreclosure Action, as MERS was Authorized to Assign the Note and Deed of Trust to Defendant

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

The court in deciding Perez v. Deutsche Bank Nat’l Trust Co., 2013 U.S. Dist. LEXIS 153947, 2013 WL 5781208 (W.D. Tex. Oct. 25, 2013) dismissed the plaintiff’s wrongful foreclosure. Plaintiff alleged that the defendant’s foreclosure action was wrongful. Also plaintiff alleged that the deed of trust was not enforceable due to that lack of ownership… Read more »