March 27, 2013
Georgia Bankruptcy Court Holds that Security Deed Creates an Agency Relationship Between Lender and MERS
In Drake v. Citizens Bank of Effingham, et. al., AP No. 10-4033 (Bankr. S.D. Ga. Feb. 28, 2011), the court held that the security deed granted to MERS satisfied the requirements of Georgia law and the language of the security … Continue reading
March 27, 2013 in Bankruptcy litigation | Permalink | No Comments
March 20, 2013
Texas District Court Found that Bank Had Standing because it had Promissory Note and Affidavit
In Santarose v. Aurora Bank FSB, No. H-10-0720 (S.D. Texas 2010), homeowners alleged wrongful foreclosure. The homeowner executed a promissory note in connection with a purchase money loan from Lehman Brothers Bank. The homeowners executed a deed of trust securing the payment … Continue reading
March 20, 2013 in Bankruptcy litigation | Permalink | No Comments
March 13, 2013
Arizona Bankruptcy Court Imposes Duty on Attorney to Act with Reasonable Diligence
In In re: Madison, No. 2:09-bk-22225-SSC (Bankr. D. Ariz., March 30, 2011), the court held that an attorney has the duty to act with reasonable diligence in representing his client and communicating adequately with both the client and the court. The … Continue reading
March 13, 2013 in Bankruptcy litigation | Permalink | No Comments
March 12, 2013
Ohio Bankruptcy Court Holds that Incomprehensible Payment Histories Evidence Defective Procedures
In In re Cartier, No. 04-15754 (Bankr. N.D. Oh. June 18, 2008),the Bankruptcy court found that the payment history was incomprehensible and that procedures were not followed. There was an order on MERS, through an officer, to appear and show cause, … Continue reading
March 12, 2013 in Bankruptcy litigation | Permalink | No Comments
February 18, 2013
Idaho Bankruptcy Court Rules Banks/MERS Lacked Authority to Transfer Notes
In In re WIlhem, 407 B.R. 392 (Bankr. D. Idaho 2009), the Idaho Bankruptcy Court, ruling in 5 similar cases, held that movant banks lacked standing to seek stay relief, and therefore, denied their motions. Movants did not demonstrate possession of the … Continue reading
February 18, 2013 in Bankruptcy litigation | Permalink | No Comments
January 13, 2013
United States Bankruptcy Court Bound by Precedent to Recognize Bank’s Standing in Foreclosure Action, but Opines on MERS’s Flawed Assignment Process and Status as Agent
In In re Agard, 444 BR 231, 235 (Bankr. E.D.N.Y. 2011) vacated in part sub nom. Agard v. Select Portfolio Servicing, Inc., BR 8-10-77338 REG (E.D.N.Y. 2012), the United States Bankruptcy Court for the Eastern District of New York held … Continue reading
January 13, 2013 in Bankruptcy litigation | Permalink | No Comments
January 4, 2013
Arizona 9th Circuit Bankruptcy Appellate Proceeding Finds Lack of Standing with Absence of Mortgage Note
cash loan quick virginia In In re Veal, 450 B.R. 897 (B.A.P. 9th Cir. 2011) the court held that a party has standing to prosecute a proof of claim involving a negotiable promissory note secured by real property if, under applicable law, … Continue reading
January 4, 2013 in Bankruptcy litigation | Permalink | No Comments
