Lack of Evidence that Mortgage Assigned to Plaintiff Dooms Foreclosure: FTBK Inv. II LLC v Mercy Holding LLC

In a July 24, 2012 decision by Justice Demarest, the court denied summary judgment seeking to foreclose on a mortgage and note.  The mortgage and note were held by Washington Mutual Bank (“WaMu”), until the Federal Deposit Insurance Corporation (“FDIC”) appointed a receiver for WaMu and transferred all of its loans to Chase Bank.  When defendants stopped making payments, Chase notified them they were in default.  Chase then transferred the loan to a new entity, which later transferred the loan to Plaintiff.

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