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 »

Court Finds that Bank was Entitled to Enforce the Instrument Under R.C. 1303.31

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

The court in deciding M & T Bank v. Strawn, 2013-Ohio-5845 (Ohio Ct. App., Trumbull County 2013) affirmed the lower court’s decision and found that appellant’s argument was without merit. Appellant framed three issues for this court’s review. First, appellant contended that the trial court erred in relying upon the affidavit of Mr. Fisher to… Read more »

Minnesota Court Rejects Tweaked Version of Show-Me-the-Note Claim

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

The court in deciding Mutua v. Deutsche Bank Nat’l Trust Co., 2013 Minn. Dist. 65 (Minn. Dist. Ct. 2013) found that since the defendant had a valid legal title to plaintiffs’ mortgage. Plaintiffs had failed to state a claim against either defendant and their respective motions to dismiss are granted. This Court reasoned that there… 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 »

Ohio Court of Appeals Finds that BAC had Failed to Demonstrate that it had Standing to Accelerate the Note and Foreclose the Mortgage

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

The court in deciding BAC Home Loans Servicing, L.P. v. Blythe, 2013-Ohio-5775 (Ohio Ct. App., Columbiana County, 2013) reversed the lower court’s judgment. Appellant Walter J. Blythe appealed the lower court’s decision granting summary judgment in favor of Appellee, BAC Home Loans Servicing, L.P., in this foreclosure action. Blythe challenged the lower court’s finding that… Read more »

Tennessee Court Dismisses TILA, RICO, and RESPA Claims

Posted by & filed under 2013, Downstream litigation by date, Downstream litigation by state, Equity, Foreclosures, MBS industry, MERS/Bank lacks standing, Note ownership litigation, Regulation, Tennessee.

The Tennessee court in deciding Mhoon v. United States Bank Home Mortg., 2013 U.S. Dist. (W.D. Tenn., 2013) dismissed the complaint of the plaintiff pursuant to 28 U.S.C. § 1915(e)(2)(B)(ii). Plaintiff [Mhoon] filed a complaint against defendant U.S. Bank. This case was an action to prohibit a non-judicial foreclosure of real property. The complaint alleged… Read more »

Ohio Court Held That the Promissory Note was a Negotiable Instrument Subject to Relevant Provisions of R.C. Chapter 1303

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

The court in deciding Bank of Am., N.A. v. Pasqualone, 2013-Ohio-5795 (Ohio Ct. App., Franklin County, 2013) ultimately decided that the motion to strike moot, thus this court affirmed judgment of the lower court. This court held that the promissory note was a negotiable instrument subject to relevant provisions of R.C. Chapter 1303 because it… Read more »