August 28, 2013
U.S. District Court for the Eastern District of New York Rules That a Party Perfects its Security Interests in Disputed Loans by Taking Possession of the Notes as Opposed to Recording the Mortgage Assignments, Pursuant to UCC Article 9
In Provident Bank v. Community Home Mortgage Corp., 498 F.Supp.2d 558, 558 (E.D.N.Y. 2007) the U.S. District Court for the Eastern District of New York ruled in favor of intervenor-plaintiff NetBank, granting its cross motion for summary judgment against intervenor-plaintiff, … Continue reading
August 28, 2013 in 2007 | Permalink | No Comments
July 31, 2013
Court Holds That MERS Assignment, in Isolation, Could Not Prove Ownership
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 … Continue reading
July 31, 2013 in 2007 | Permalink | No Comments
April 16, 2013
Eleventh Circuit Holds that Claim under TILA is Time-barred
In Johnson v. Mortgage Electronic Registration Systems, Inc., 252 Fed. Appx. 293 (11th Circ. 2007), the Eleventh Circuit dismissed borrower’s claims under the Truth in Lending Act (“TILA”), because they were time-barred. On March 17, 2001 Johnson executed a loan from … Continue reading
April 16, 2013 in 2007 | Permalink | No Comments
March 14, 2013
Michigan Court of Appeals Holds that Foreclosure is Void Because Mortgagee Commenced the Foreclosure Before It Obtained an Interest in the Indebtedness
In Davenport v. HSBC Bank USA, 739 N.W.2d 383 (Mich. Ct. App. 2007), the Court of Appeals held that the foreclosure was void ab initio because Assignee Defendant did not have an interest in the indebtedness secured by the mortgage … Continue reading
March 14, 2013 in 2007 | Permalink | No Comments
March 2, 2013
Florida Appellate Court Holds That if MERS was Holder and Owner of Note, it Would Have Standing to Foreclose
In MERS v. Azize, 965 So.2d 151 (2007), the Second District Court of Appeal of Florida reversed the trial court’s dismissal of a foreclosure action with prejudice and remanded because lack of ownership of the beneficial interest in a note … Continue reading
March 2, 2013 in 2007 | Permalink | No Comments
December 6, 2012
Florida Third District Court of Appeals Holds that MERS has Standing to Foreclose because no Rights are Affected
In MERS, Inc. v. Revoredo, 955 So.2d 33 (FL 2d DCA, 2007), MERS brought a foreclosure action against plaintiffs, based on a note of which it was the holder. MERS did not “own” the note even though it was called … Continue reading
December 6, 2012 in 2007 | Permalink | No Comments
