One Mortgage

U.S. bank vs. decision one: evidence of assignment of a mortgage just became more difficult.

Recent Maine Superior Courts ruling in the US Bank v. Resolution One Mortgage underscores the challenges of an exclusionary faction to demonstrate that it possessed or had adequate legal title to both the grade and the mortgage. Significance of the creation of property to exclude a mortgage was determined by the Bank of America, N.A. v. Greenleaf, 2014 ME 89, a landmark ruling of the Supreme Courts of Maine in 2014.

At U.S. Bank, N.A., as trustee of LSF8 Master Participation Trust v. Decision One Mortgage Company, LLC, (Superior Court, CV-15-65) (July 26, 2016), Judge Clifford rejected an attempt by a mortgage owner to substantiate property in the mortgage by a silent security claim, a declarative judgement by default of appearance and a judgement on the written submissions.

In all three cases, the claimant was rejected. In this case, the claimant was the owner of a mortgage letter initially drawn up for Decision One. Claimant alleged that Decision No 1 was no longer a viable unit and that therefore the Claimant could not obtain from Decision No 1 a letter confirming the transfer of the mortgage in question or any other document that would meet Greenleaf's requirements.

Consequently, the applicant requested a judicial order in the shape of a silent petition in order to declare that he owned the mortgage and could therefore enforce it. In addition, the applicant applied for a declaration of judgments by default and for a ruling on the written submissions. It found that there was no silent security claim available to ascertain whether a mortgage was owned and dismissed the claimant's application.

It also dismissed the other two heads of claim following the finding: and ( 2 ) the judgement on the written submissions was available only if the other had submitted an reply, which had not been done.