May 10, 2013
Michigan Federal District Court Finds that Holder of Unsigned Note Can Enforce
The District Court for the Eastern District of Michigan affirmed the Bankruptcy Court in Mentag v. GMAC Mortgage LLC, No. 12-13350 (Feb. 8, 2013), finding that the holder of the note was entitled to enforce it and has standing to … Continue reading
May 10, 2013 in 2013 | Permalink | No Comments
May 3, 2013
Noncompliance with PSA Voids Assignment of Note and Mortgage
Wells Fargo Bank, N.A. v Erobobo, 2013 NY Slip Op 50675(U) (Sup. Ct. Kings, Apr. 29, 2013) reaches a pretty extraordinary result: noncompliance with the assignment provisions of a Pooling and Servicing Agreement voids the assignment of a note and … Continue reading
April 24, 2013
No Scarlet Letter for Robo-Signing
An “admitted robo-signer” and her bank were let off the hook in Grullon v. Bank of America et al. (Mar. 28, 2013, No. 10-5427 (KSH) (PS)) (D.N.J.). (19) Grullon, a homeowner, alleged that he, and others similarly situated, was entitled … Continue reading
April 24, 2013 in 2013 | Permalink | No Comments
April 23, 2013
Cherryland, Very Strange
I looked at the Cherryland decision yesterday. Law360 ran a story (behind a paywall) about it today, quoting me and others. To recap, the original Cherryland case appeared to unexpectedly open up many commercial borrowers in Michigan to personal liability. … Continue reading
April 23, 2013 in 2013 | Permalink | No Comments
April 22, 2013
Cherry Bombs in Michigan
An ongoing Michigan state case, Wells Fargo Bank, N.A. v. Cherryland Mall L.P. et al., has been generating a lot of heat over an obscure but important issue for commercial mortgage borrowers, the scope of carveouts from standard nonrecourse provisions … Continue reading
April 22, 2013 in 2013 | Permalink | No Comments
April 19, 2013
Robo-Signing Complaints Must Sing A Different Toone
The Court of Appeals for the 10th Circuit took a hard look at a complaint alleging robo-signing misbehavior relating to a promissory note and its various endorsements in Toone v. Wells Fargo Bank, N.A. et al., (Mar. 8, 2013, No. 11-4188). … Continue reading
April 19, 2013 in 2013 | Permalink | No Comments
April 15, 2013
6th Circuit Upholds Foreclosure by Lender Under Michigan Law
The 6th Circuit upheld a foreclosure under Michigan law in Conlin v. MERS et al., (Case No. 12-2021, April 10, 2013). Plaintiff Conlin sought to have the foreclosure sale of his property “set aside based on alleged defects in the … Continue reading
April 15, 2013 in 2013 | Permalink | No Comments
