Alabama judge denies securitization trustee standing to foreclose

Standing was denied to U.S. Bank, as Trustee, because it failed to prove it was the holder of the note prior to initiating foreclosure. It failed because the fabricated allonge was not shown to be have been firmly attached so as to become part of the note itself.

Suddenly Appearing Endorsements Used by Bank-trustees in. – This article discusses 42 cases with suddenly appearing (often called "ta-da") endorsements. In each case, a bank-trustee tried to foreclose on behalf of a mortgage-backed trust. Most of these cases began with the filing of an unendorsed note that was described in the bank’s pleadings as a true and correct copy of the original note.

In a stunning ruling from the Ninth judicial circuit court of Common Pleas of Charleston, South Carolina, a Judge has issued a detailed, 4-page written opinion dismissing a foreclosure action filed by Deutsche Bank national trust company as the claimed trustee of an IndyMac securitization, holding that DB failed to show that it was the owner.

A Washington County, Pennsylvania Judge has denied a Motion for Summary Judgment filed by USBank as the claimed "trustee" of a Bear Stearns securitization. The case involves a claimed MERS assignment to USBank.

9th Circ. Throws Out Calif. BofA Foreclosure Action – In its opinion, the three-judge panel said. which found records of trustee substitutions that the plaintiff claimed the bank had failed to file properly did not apply to deeds of trust. The.

New York state Judge Melvin Schweitzer ruled Jan. 4 that Cedarwoods lacked standing to sue because it did not hold enough of an interest in the securitization, which also includes other mortgages..

Alabama (home to Birmingham), to secure a municipal finance deal that nearly bankrupted the county. There’s the fact the bank was in so great a rush to evict people from their homes that it admits.

It is unclear whether other federal courts, which have not adopted rules similar to the Northern District of Ohio’s Procedures, will take a similar view as to the documentation necessary to demonstrate a securitization trustee’s standing to bring a foreclosure action where it is not identified on the promissory note and mortgage.

A major issue arising in foreclosure defense cases is the homeowner’s ability to challenge the foreclosing party’s standing based on noncompliance with securitization documentation. Several courts have held that there is no standing to challenge standing on this basis, most recently the 1st Circuit BAP in Correia v.

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