REFinBlog

March 7, 2013

Hawaii District Court Grants Defendants Motion for Summary Judgment against Plaintiff Homeowners for Foreclosure

In Krakaeur v. Indymac, 2010 U.S. Dist. Lexis 132284 (2010), the United States District Court for the District of Hawaii granted motion for summary judgment of Defendants IndyMac Mortgage Services and OneWest Bank, entitling Defendants to a decree of foreclosure … Continue reading →

Hawaii District Court Dismisses Plaintiff Homeowners’ Complaint with Prejudice for Various Failures to Plead with Particularity

In Gambing v. OneWest Bank, 2011 U.S. Dist. LEXIS 77924 (D. Haw. July 18, 2011), Plaintiffs Lorenzo and Lorie Gambing’s filed a twelve-count motion against OneWest Bank, MERS, and other parties to prevent the foreclosure of their property. OneWest and … Continue reading →

March 6, 2013

UCC’s Permanent Editorial Board Reports on Ownership of and Right to Enforce Notes

In Application of the Uniform Commercial Code to Selected Issues Related to Mortgage Notes, the Permanent Editorial Board for the Uniform Commercial Code describes the legal difference between the right to enforce a note (governed by Article 3 of the … Continue reading →

March 5, 2013

Michigan Court of Appeals holds that Bank has Standing to Foreclose on Property by Advertisement because Bank had a Sufficient Interest in the Indebtedness Secured by the Mortgage as Record Holder of the Mortgage

In Fawaz v. Aurora Loan Services LLC, 302840, 2012 WL 1521589 (Mich. Ct. App. May 1, 2012), the Michigan Court of Appeals held that Aurora Loan Servicing LLC had standing to foreclose on homeowners’ property by advertisement. Nazih and Iman … Continue reading →

March 2, 2013

Florida Appellate Court Holds Bank Has Standing to Foreclose because MERS Properly Assigned the Note to it and Lack of Ownership of the Beneficial Interest in the Note Does Not Deprive an Assignee of Standing

In Taylor v. Deutsche Bank Nat. Trust Co., 44 So.3d 618 (2010), the Fifth District Court of Appeal of Florida held Deutsche Bank Nat. Trust Co. (“Deutsche Bank”) had standing to foreclose because MERS properly assigned the note to it … Continue reading →

Florida Appellate Court Holds That if MERS was Holder and Owner of Note, it Would Have Standing to Foreclose

In MERS v. Azize, 965 So.2d 151 (2007), the Second District Court of Appeal of Florida reversed the trial court’s dismissal of a foreclosure action with prejudice and remanded because lack of ownership of the beneficial interest in a note … Continue reading →

U.S. District Court in California Holds MERS has Standing to Foreclose and Dismisses Borrower’s Complaint Against MERS because the Claims were Premised upon MERS’ Lack of Standing

In Germon v. BAC Home Loans Servicing LP, 2011 WL 719591 (S.D.Cal. Feb. 22 2011), the U.S. District Court for the Southern District of California (“Court”) dismissed a borrower’s complaint against MERS and others (“Defendants”) because the borrower failed to … Continue reading →