Since Bank was the Note-Holder it was a Person Entitled to Enforce the Note Pursuant to R.C. 1303.31(A)(1)

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Note ownership litigation, Ohio.

The court in deciding Bank of Am., N.A. v. Pasqualone, 2013-Ohio-5795 (Ohio Ct. App., Franklin County, 2013) affirmed the decision of the lower court. The court found that the promissory note was a negotiable instrument subject to relevant provisions of R.C. Chapter 1303 because it contained a promise to pay the lender the amount of… Read more »

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 »

Maryland Court Denies Claim Alleging Violations of Federal and State Consumer Laws

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Downstream litigation media coverage, Foreclosures, Maryland, MBS industry.

The court in deciding Bolden v. McCabe, Weisberg & Conway, LLC, 2013 U.S. Dist., 182057 (D. Md. 2013) granted defendant’s motion to dismiss and denied plaintiff’s motion for summary judgment. Plaintiff in bringing this action alleged violations of the Fair Credit Reporting Act (“FCRA”), 15 U.S.C. § 1681 et seq., the Fair Debt Collection Practices… Read more »

Washington Court Dismisses Fair Debt Collection Practices Act and Washington Deed of Trust Act Violation Claims

Posted by & filed under 2014, Bankruptcy litigation, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Equity, MERS/Bank has standing, MERS/Bank lacks standing, Note ownership litigation, Washington.

The court in deciding Dietz v. Quality Loan Serv. Corp., 2014 U.S. Dist. (W.D. Wash. Jan. 3, 2014) granted Wells Fargo and MERS’ motion to dismiss. This action involved is a post-sale wrongful foreclosure case. Plaintiff Timothy Dietz alleged causes of action for violation of the Fair Debt Collection Practices Act (FDCPA)(Counts I and IV)… Read more »

Appellate Court of Illinois Awarded Summary Judgment to Plaintiff Where Defendant Failed to Show That Plaintiff was an Unlicensed Debt Collector Under the Collection Agency Act

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation commentary, Downstream litigation media coverage, Illinois.

The Illinois court in deciding Kondaur Capital Corp. v. Sreenan, 2013 Ill. App. (Ill. App. Ct. 1st Dist. 2013) affirmed the judgment of the circuit court granting summary judgment for the plaintiff. In the summary judgment motion, the plaintiff asserted that it was the legal holder and in possession of the note at issue pursuant… Read more »

Appellate Court of Illinois Denies Defendants’ Motion for Presentment and Cause to Vacate Judgment was Misplaced and Had no Legal Significance

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Downstream litigation media coverage, Foreclosures, Illinois, MBS industry.

The Appellate Court of Illinois in deciding Deutsche Bank Nat’l Trust Co. v. Cole, 2013 IL App (2d) 130450-U (Ill. App. Ct. 2d Dist. 2013) held that the trial court properly confirmed a judicial sale, as the plaintiff had no obligation to produce the originals of the mortgage and the note. Moreover under the appropriate… Read more »

Hawaiian Court Finds That Foreclosure was Permissible on 1250 Oceanside

Posted by & filed under 2013, Downstream litigation, Downstream litigation by date, Downstream litigation by state, Downstream litigation commentary, Downstream litigation media coverage, Equity, Foreclosures, Hawaii, MBS industry, MERS/Bank has standing, MERS/Bank lacks standing.

The court in deciding In re 1250 Oceanside Partners, (Bankr. D. Haw., 2013) ultimately came to the conclusion that Oceanside was entitled to foreclose. The debtor in possession, 1250 Oceanside (Oceanside), sought to enforce a promissory note and foreclose a mortgage made by defendants Lawrence Shaw and Lisa Shaw (the Shaws). The other defendants claimed… Read more »