September 17, 2013
United States District Court Rules That MERS Had The Power to Assign the Deed of Trust
The United States District Court of the Eastern District of California in deciding Coburn v. Bank of New York Mellon, N.A., 2:10-CV-03080 (2010) granted defendants’ motion to dismiss. The court also handed down the ruling that the plaintiff’s claim of … Continue reading
September 17, 2013 in California | Permalink | No Comments
August 23, 2013
Bernhardt on Dangerous Assignments
Roger Bernhardt gave me permission to repost this analysis, which has appeared on Dirt and elsewhere: Heritage Pac. Fin. v Monroy The same appellate panel that delivered a terrifying punch to the residential lending industry a few months ago in … Continue reading
August 23, 2013 in California | Permalink | No Comments
August 20, 2013
Court Rules MERS is Not Required to Register With the Secretary of State Because Enforcing Deeds of Trust Does Not Qualify as “Doing Business” in California
The court in Sulak v. Mortgage Electronic Registration Systems, Inc., et al., DCA No. E039775, (2004) found that the lower court properly denied the preliminary injunction and that the orders denying the TRO were proper. instant money In this case, the … Continue reading
August 20, 2013 in California | Permalink | No Comments
August 1, 2013
A REMIC Unraveling?
An unpublished opinion, Glaski v. Bank of America, No. F064556 (7/31/13, Cal. 5th App. Dist.), presents one possible future for REMICs that failed to comply with the strict rules set for them by Congress and the IRS. Glaski, a homeowner, … Continue reading
August 1, 2013 in California | Permalink | No Comments
July 16, 2013
California Court Affirms MERS’ Authority to Assign its Interest Under a Deed of Trust
The court in Hollins v. ReconTrust et al., Civil No. 2:11-cv-00945-PSG –PLA (C.D. Cal. May 6, 2011) affirmed MERS’ authority to assign its interest under a deed of trust and granted MERS’ motion to dismiss. The plaintiffs claimed that the … Continue reading
July 16, 2013 in California | Permalink | No Comments
July 2, 2013
The Future of Foreclosure
Professor Roger Bernhardt (Golden Gate University School of Law) has posted The Future of Foreclosure to SSRN. This short article is ostensibly about a few recent California foreclosure decisions but I was more intrigued by its “case for going back … Continue reading
July 2, 2013 in California | Permalink | No Comments
June 17, 2013
Why We Need The CFPB
Judge Illston (N.D. CA.) has preliminarily approved a settlement of a class action in Jordan et al. v. Paul Financial LLC et al., No. 3:07-cv-04496 (June 14, 2013). The class action arises from lender practices during the Subprime Boom of the … Continue reading
June 17, 2013 in California | Permalink | No Comments
