REFinBlog

April 9, 2013

No News to Report on Preemption

The Fourth Circuit recently reversed a dismissal of a fraud claim in McCauley v. Home Loan Investment  Bank, F.S.B.; Deutsche Bank National Trust Company. The main issue on appeal was whether the Home Owners’ Loan Act preempted the homeowner’s state … Continue reading →

April 8, 2013

Rule of Law Cuts Both Ways

The New York Appellate Division (2d Dep’t) reversed orders by Justice Schack of New York Supreme Court (Kings County) in HSBC Bank USA, N.A. v. Taher.  Justice Schack became something of a folk hero to many for holding lenders’ feet … Continue reading →

April 7, 2013

Michigan District Court Dismisses Homeowner’s Action to Declare Foreclosure Null and Void

In Olesuk v Fed. Natl. Mort. Assoc., 2:12-cv-11001 (Dist. Ct. Mich. 2012), the court dismissed an action by homeowners against the parties involved in the multiple assignments of their mortgage, including MERS (Defendants). Homeowners brought the action after defaulting on … Continue reading →

District Court for the Northern District of Illinois Finds No Wrongdoing in MERS’s Assignment & Deutsche Bank’s Ensuing Foreclosure

In Long v. One West Bank, No. 11 C 703 (N.D. Ill. 2011), the District Court for the Northern District of Illinois denied OneWest Bank, MERS & Deutsche Bank’s motion to dismiss in part as moot, and granted the motion … Continue reading →

The Michigan Eastern District Court Grants MERS and other Defendants’ Motion to Dismiss Because Homeowners Failed to State a Claim

In Safford v. Precision Funding, 09-14925-BC, 2010 WL 548504 (E.D. Mich. Feb. 9, 2010), the court granted Defendants’ motion to dismiss. In August 2004, Jeffrey Safford and Denise Safford purchased their home and obtained a fixed rate mortgage loan for … Continue reading →

April 6, 2013

Minnesota District Court Denies Plaintiffs’ Quiet Title Claim Because of Default; Plaintiffs Fail to Sufficiently Allege Slander of Title Claim

In Novak v. JP Morgan Chase Bank, CIV. 12-589 DSD/LIB, 2012 WL 3638513 (D. Minn. Aug. 23, 2012), the United States District Court of Minnesota granted the defendants’ motion to dismiss the plaintiffs’ claims. In the case at hand, each … Continue reading →

Utah State Court Holds that MERS Maintains Its Rights Under the Deed of Trust Despite the Sale and Securitization of the Underlying Note

In Commonwealth Property Advocates v. Mortgage Electronic Registration System, 263 P.3d 397, (2011), the Court of Appeals of Utah affirmed a Utah district court’s order dismissing the plaintiff’s complaint. In the case at hand, a home buyer executed a promissory … Continue reading →