Wells Fargo Bank, N.A. v Erobobo: Non-Compliance With Pooling And Servicing Agreement (PSA) Voids Assignment of Mortgage…
Non-Compliance With Pooling And Servicing Agreement (PSA) Voids Assignment of Mortgage…
Down here in Florida Foreclosure Courts, we are treated to a constant, steady, nearly impenetrable wall of,
“Fraud in Foreclosure Doesn’t Matter at All!”
“Banks Can Ignore All Laws, All Rules, All Foreclosure Processes And Still Take Your Home”
and a recent favorite
“Banks Can Spit In The Face of The Attorneys General And Ignore Their Absurd National Mortgage Settlement”
But up in New York, a court reached a stunning result…..
A COURT ACTUALLY MADE A BANK FOLLOW THE LAW AND ITS OWN RULES!
The assignment of the Defendant’s note and mortgage, having not been assigned from the Depositor to the Trust, is therefore void as in being in contravention of the PSA. The evidence submitted by Defendant that the note was acquired after the closing date and that assignment was not made by the Depositor, is sufficient to raise questions [*10]of fact as to Whether the Plaintiff owns the note and mortgage, and precludes granting Plaintiff summary judgment.
Copy of the opinion below…