REFinBlog

January 12, 2013

New Jersey Appellate Division Affirms Aurora Loan Servicing’s Foreclosure Judgment, Rejecting Homeowners’ “Exceptional Circumstances” Argument

In Aurora Loan Services, LLC v. Pagano, A-3887-10T1, 2011 WL 6153634 (N.J. Super. Ct. App. Div. Dec. 13, 2011) the Appellate Division of the Superior Court of New Jersey, Atlantic County, affirmed the denial of defendant/homeowners’ motion to vacate their … Continue reading →

New Jersey Appellate Division Finds Bank of New York Does Not Have Standing to Prosecute Foreclosure Action

quick cash loans $10000 In Bank of New York As Tr. For Certificate Holders CWABS, Inc. v. Cupo, A-1212-10T2, 2012 WL 611849 (N.J. Super. Ct. App. Div. Feb. 28, 2012) the Appellate Division of the Superior Court of New Jersey … Continue reading →

January 11, 2013

New York Supreme Court, Appellate Division Holds that Assignee Bank Lacks Standing to Foreclose for Failure to Provide Evidence of Valid Note Assignment

In Bank of New York v Silverberg, 86 A.D.3d 274 (2d Dept. 2011), the court stated, “[t]he principal issue ripe for determination by this Court . . . is whether MERS, as nominee and mortgagee for purposes of recording, can … Continue reading →

January 10, 2013

Alabama District Court Continues to Uphold Enforceability of Mortgages Despite Split of Note and Mortgage

In Brooks v. Freddie Mac, 2011 WL 3794683 (AL District Court, 2011), the court held that once a mortgage is assigned to another, foreclosure action is not attributed to the assignor. Therefore, when MERS assigned its interest to another party, the … Continue reading →

Alabama District Court Finds that MERS had Standing to Foreclose Absent Showing of Fraud and Breach of Good Faith

In Mortensen v. MERS, 2010 WL 5376332 (AL Distr. Ct, 2010), the court did not find that refusal to modify a mortgage obligation constituted a breach of good faith and dealing. The court also held that that there was no fraud or … Continue reading →

New York Supreme Court Holds that Assignee Bank Lacks Standing to Foreclose for Failure to Validate MERS’s Authority to Assign and Condemns Frivolous Conduct Relating to “Robosigning”

In HSBC Bank v Taher, 32 Misc. 3d 1208(A) (Sup. Ct. 2011), the New York Supreme Court of Kings County held that an assignee bank conducting a foreclosure action must submit proof of the assignor’s authority to assign the mortgage, … Continue reading →

Texas Case Distinguishes Between a Holder and an Owner of Promissory Notes

In Martin v. New Century Mortgage Company, et al., 2012 Tex. App. Lexis 4705 (Houston 1st Court of Appeals, June 14, 2012), the plaintiffs executed a deed of trust and promissory note with New Century Mortgage Corporation. The deed of … Continue reading →