Showing 1 post in UCC.
A Missing Massachusetts Promissory Note's Outsized Potential Impact on Foreclosures
In Zullo v. HMC Assets, LLC, the Massachusetts Land Court has issued a judicial about-face in deciding that a mortgage holder lacks standing to foreclose if that holder never possessed the mortgagor's original promissory note – even if that holder can submit a lost note affidavit from a predecessor holder. In a written decision issued in August 2014, the Land Court determined, in the very same case, that the mortgage holder could foreclose without possession of the original promissory note but with a lost note affidavit executed by a prior loan servicer. The 2014 Zullo decision directly contradicted two decisions arising out of the Massachusetts bankruptcy court, Desmond v. Raymond C. Green, Inc., 505 B.R. 365 (Bankr. D. Mass. 2014); Marks v. Braunstein, 439 B.R. 248 (Bankr. D. Mass. 2010), both of which concluded that under Massachusetts law, the foreclosing mortgage holder must have at one point possessed the original note, so that it can execute the lost note affidavit. More ›
Topics
- Statute of Limitations
- Medical Marijuana
- marijuana
- Federal Housing Authority
- Cole Memorandum
- 2nd Circuit
- Forbearance Agreement
- California Court of Appeal
- Rhode Island
- ACA
- Automated Telephone Dialer Service
- hearsay
- Maine
- cryptocurrency
- RICO
- Education
- Department of Education
- Securities & Exchange Commission
- blockchain
- Consumer Financial Protection Act
- CFPB
- Richard Cordray
- statutory interpretation
- appointment power
- Richard Cordray
- Illinois Student Loan Bill of Rights
- Reverse Mortgage
- FHA
- Arbitration
- Appellate Decisions
- HUD
- 1st Circuit Court of Appeals
- Massachusetts
- Bankruptcy Code
- Employee Benefits
- Employer Participation Student Loan Assistance Act
- Seventh Circuit
- Congressional Review Act
- Arbitration Rule
- Privacy
- Mandatory Arbitration
- Federal Arbitration Act of 1925
- Trump
- Massachusetts Land Court
- UCC
- Uniform Commercial Code
- FACTA
- Fair and Accurate Credit Transactions Act
- Second Circuit
- Third Circuit
- OFAC
- Office of Foreign Assets Control
- FCRA
- Fair Credit Reporting Act
- Credit Report
- Obama Administration
- United States Treasury
- Colorado
- Debt Buyers
- Litigation
- Legislation
- Dodd-Frank
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Proposed Legislation
- Financial CHOICE Act
- New York
- FCC
- Class Action
- Class Action Fairness Act of 2005
- Fairness in Class Action Litigation Act of 2017
- D.C. Circuit
- Trump Administration
- RESPA
- New Jersey
- IRS
- Federal
- Massachusetts Supreme Judicial Court
- Foreclosure
- Mortgage
- FTC
- UDAAP
- Fair Employment and Housing Act
- City of Miami
- Fourth Circuit
- United States Supreme Court
- Debt Purchase
- Texting
- car dealership
- Craigslist
- Compliance Corner
- compliance audit
- corporate governance
- corporate compliance
- financial regulatory
- Illinois
- TCPA
- Fair Debt Collection Practices Act
- Telephone Consumer Protection Act
- Bankruptcy
- loan modification
- California
- Ninth Circuit
- FDCPA
- Debt Collection
- Eleventh Circuit
- CFPB
- Real Estate Settlement Act
- Mortgage loans
- Student Loans
- Loan Servicing
- Equal Opportunity Act
- Loan Defaults