June 12, 2013
Don’t Show Me The Note in Georgia!
The Georgia Supreme Court recently decided You v. JP Morgan Chase, No. S13Q0040 (May 20, 2013) which held that the “law does not require a party seeking to exercise a power of sale in a deed to secured a debt … Continue reading
June 12, 2013 in 2013 | Permalink | No Comments
June 7, 2013
Mass. Appeals Court Applies Eaton Retroactively
The intermediate appeals court of Massachusetts applied Eaton retroactively in Lyons v. MERS et al., 11-P-560 (June 5, 2013) notwithstanding the Mass. Supreme Court’s holding that Eaton would only apply prospectively. Eaton held that “a mortgagee may foreclose under a … Continue reading
June 7, 2013 in 2013 | Permalink | No Comments
June 6, 2013
REMIC Armageddon on the Horizon?
Brad Borden and I have warned that an unanticipated tax consequence of the sloppy mortgage origination practices that characterized the boom is that MBS pools may fail to qualify as REMICs. This would have massively negative tax consequences for MBS … Continue reading
June 6, 2013 in 2013 | Permalink | No Comments
June 3, 2013
NY Federal Magistrate Issues Declaratory Ruling That Note Transfer Is Effective
Magistrate Judge Gold issued an opinion in Robinson v. H & R Block Bank, 12-Civ-4196 (EDNY, May 29, 2013). Professor Dale Whitman posted a commentary about it on the Dirt listserv and he has given us permission to cross-post it … Continue reading
June 3, 2013 in 2013 | Permalink | No Comments
May 31, 2013
NY Appellate Court Rules Modification Not Enforceable in Foreclosure
The Appellate Division ruled in Wells Fargo Bank, N.A. v. Meyers, 2013 Slip Op. 03085 (2d Dep’t), that a failure to negotiate a loan modification in good faith, which is required under NY foreclosure law, does not support the unilateral … Continue reading
May 31, 2013 in 2013 | Permalink | No Comments
May 23, 2013
Wyoming Supreme Court Upholds Assignment to MERS in Bankruptcy
Professor Wilson Freyermuth posted this summary of the Wyoming Supreme Court’s opinion In re Gifford, 2013 WY 54 (Wyo. Sup. Ct. May 8, 2013) to the DIRT listserv and has given us permission to cross-post it here: Synopsis: Wyoming Supreme … Continue reading
May 23, 2013 in 2013 | Permalink | No Comments
May 15, 2013
Lender Agrees to Permanent Injunction of Non-Judicial Foreclosure in Colorado
A pro se plaintiff has won at least a procedural victory against her lender in Brumfiel v. U.S. Bank et al. (May 14, 2013) (12-cv-02716-WJM-MEH). US Bank filed a Notice of Withdrawal of the foreclosure action and then a Motion … Continue reading
May 15, 2013 in 2013 | Permalink | No Comments
