November 24, 2013
Supreme Court of New York Grants Plaintiff’s Motion to Dismiss and Denied Defendant’s Cross-Motion
The court in deciding Bank of N.Y. Mellon v Arthur, 2013 N.Y. Misc. LEXIS 4875, 2013 NY Slip Op 32625(U) (N.Y. Sup. Ct. Oct. 23, 2013) granted the plaintiff’s motion to dismiss and denied the defendant’s [Arthur] cross-motion. The Plaintiff … Continue reading
November 24, 2013 in New York | Permalink | No Comments
September 25, 2013
Another Federal Judge Can’t Take It Anymore
Magistrate Judge Brown (EDNY) issued a memorandum and order in Pandit v. Saxon Mortgage Services, Inc., CV 11-3935 (June 5, 2013) that reflects, to my mind, judicial frustration with mortgage industry companies. This frustration arises, no doubt, from the many … Continue reading
September 25, 2013 in New York | Permalink | No Comments
September 23, 2013
Deane Finds Us East of Eden
Last week, I discussed a NYLJ article about the “Show Me The Note” argument in New York. The article discussed a recent case, Bank of N.Y. Mellon v. Deane, 2013 Slip Op. 23244 (Sup. Ct. Kings Country July 11, 2013). … Continue reading
September 23, 2013 in New York | Permalink | No Comments
September 18, 2013
Show Me The Note, NY Style
Steiner, Goldstein & Sohn published a short article in the New York Law Journal, Clearing The Confusion: Misplaced Notes and Allonges (Sept. 18, 2012) (behind a paywall). While intended to address commercial real estate finance, it relies on an interesting … Continue reading
September 18, 2013 in New York | Permalink | No Comments
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 New York | Permalink | No Comments
August 20, 2013
MERS’ Assignments are Recognized as Valid as New York Appellate Court Overturns ‘N.Y. v. Alderazi’ & ‘LaSalle v. Lamy’
In the case of Bank of New York v. Eddie Sachar, et al., 95 A.D.3d 695 (2012), the court found the Bank of New York Mellon had standing to foreclose based on a MERS assignment and the delivery of the … Continue reading
August 20, 2013 in New York | Permalink | No Comments
August 16, 2013
Stalled Foreclosures in NY Not a Violation of Federal Law
Judge Townes (EDNY) dismissed a putative class action, Cole v, Baum, 11-cv-3779 (July 11, 2013), against notorious foreclosure mill Steven J. Baum, P.C. and its principal relating to their failure to submit filings that would have triggered mandatory settlement conferences … Continue reading
August 16, 2013 in New York | Permalink | No Comments
