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
May 3, 2013 in Downstream litigation by state | Permalink | 1 Comment
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 Downstream litigation by state | 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 Downstream litigation by state | 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 Downstream litigation by state | 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 Downstream litigation by state | Permalink | No Comments
April 18, 2013
Washington State Court Holds that Defendants Could Not Challenge Chase’s Authority to Foreclose During an Unlawful Detainer Action
In JPMorgan Chase Bank, N.A. v. Pace, 163 Wash.App 1017 (2011), the Court of Appeals of Washington affirmed a lower court’s ruling granting Plaintiff summary judgment. In the case at hand, Defendants owned real property in Washington. In February 2005, … Continue reading
April 18, 2013 in Downstream litigation by state | Permalink | No Comments
April 16, 2013
Eleventh Circuit Holds that Claim under TILA is Time-barred
In Johnson v. Mortgage Electronic Registration Systems, Inc., 252 Fed. Appx. 293 (11th Circ. 2007), the Eleventh Circuit dismissed borrower’s claims under the Truth in Lending Act (“TILA”), because they were time-barred. On March 17, 2001 Johnson executed a loan from … Continue reading
April 16, 2013 in Downstream litigation by state | Permalink | No Comments
