8th Circ. Revives Foreclosure Suit Over Faulty Assignments (QUIET TITLE)
Law 360 reports:
The Eighth Circuit in a published opinion Thursday revived a quiet title action by foreclosed-upon homeowners who say assignments of the titles to their properties were faulty, distinguishing their claims from a discredited theory requiring a foreclosing party to hold an original promissory note [ie. “show-me-the note theory”].
In its eight-page opinion, the three-judge panel said Minnesota borrowers had advanced a pair of arguments that might have legs.(1)
Copy of the decision below…