June 24, 2013
Michigan Supreme Court Rules MERS’s Foreclosure Valid
The Michigan Court of Appeals considered two cases involving MERS-related foreclosures, Residential Funding Co., LLC v. Saurman and Bank of New York v. Messner, 292 Mich. App. 321 (April 21, 2011) deciding whether MERS is an entity permitted to foreclose … Continue reading
June 24, 2013 in Downstream litigation by state | Permalink | No Comments
June 21, 2013
Massachusetts District Court Interprets Ibanez Narrowly in Deciding That Plaintiff-Homeowner Lacked Standing to Challenge Bank’s Standing to Foreclose
This action arose out of an attempted foreclosure by defendant Aurora Loan Services on plaintiff David Kiah’s property. Based on the recent holding from U.S. Bank National Ass’n v. Ibanez, 458 Mass. 637, 941 N.E.2d 40 (2011), Kiah sought a … Continue reading
June 21, 2013 in Downstream litigation by state | Permalink | No Comments
June 19, 2013
Rhode Island Superior Court Deems PennyMac Foreclosure Proper
In Rutter v. MERS, et al., C.A. No. PC 10-4756 (R.I. Super. March 12, 2012) the Rhode Island Superior Court held that PennyMac’s foreclosure sale was proper, as the court upheld Rhode Island case law supporting the validity of MERS’s … Continue reading
June 19, 2013 in Downstream litigation by state | 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 Downstream litigation by state | Permalink | No Comments
June 14, 2013
Michigan District Court Dismisses Borrower’s Complaint After Failure to Redeem Property within Statutory Period
In Vollmar v. Federal National Mortgage Association, (12-cv-1119, E.D. Mich. 2012), the U.S. District Court for the Eastern District of Michigan, granted the defendant’s motion to dismiss each of the plaintiff’s complaints that sought to invalidate the foreclosure sale of … Continue reading
June 14, 2013 in Downstream litigation by state | Permalink | No Comments
Massachusetts District Court Limits Massachusetts Supreme Court’s Broad Holding From Ibanez By Limiting Challenges to Assignments
In Aliberti v. GMAC Mortgage, LLC, 779 F.Supp.2d 242 (D.Mass.2011), the plaintiff homeowner relied on the seemingly broad-reaching holding handed down by the Massachusetts Supreme Court in U.S. Bank National Ass’n v. Ibanez, 458 Mass. 637, 941 N.E.2d 40 (2011). … Continue reading
June 14, 2013 in Downstream litigation by state | Permalink | No Comments
June 13, 2013
Shaky South Carolina Opinion Finds That Bank Owned Note in Foreclosure Action
The South Carolina Court of Appeals held in Bank of America v. Draper et al., no. 5140 (June 5, 2013) that Bank of America had standing in a foreclosure action and had proved that it owned the mortgage note. The … Continue reading
June 13, 2013 in Downstream litigation by state | Permalink | No Comments
