US Bank National Association, v. Guillaume, et al. | New Jersey Supreme Court Says Lenders Must Be Named in Foreclosures

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US Bank National Association, v. Guillaume, et al. | New Jersey Supreme Court Says Lenders Must Be Named in Foreclosures

US Bank National Association, v. Guillaume, et al. | New Jersey Supreme Court Says Lenders Must Be Named in Foreclosures

Business Week-

New Jersey’s Supreme Court ruled documents indicating a bank’s intention to foreclose on a mortgage must name the lender before a residential property can be seized.

The case involves the foreclosure on an East Orange home owned by Maryse and Emilio Guillaume, who received a notice of intention to foreclose in May 2008. That notice included the name of the mortgage servicer, America’s Servicing Company while omitting the name of the lender. Credit Suisse AG made the loan and assigned it to US Bank National Association.

The state court in Trenton ruled today that the notice sent to the Guillaumes failed to comply with the state’s Fair Foreclosure Act, which requires the name and address of the actual lender, as well as contact information for a loan servicer. Failure to do so creates “potential for significant prejudice” to homeowners, the court said.

[BUSINESS WEEK]

SUPREME COURT OF NEW JERSEY

A-11 September Term 2011
068176

US BANK NATIONAL ASSOCIATION,
AS TRUSTEE FOR CSAB MORTGAGEBACKED
PASS-THROUGH
CERTIFICATES, SERIES 2006-3,
Plaintiff-Respondent,

v.

MARYSE GUILLAUME and EMILIO
GUILLAUME,
Defendants-Appellants,
and
CITY OF EAST ORANGE,
Defendant.

[ipaper docId=83026127 access_key=key-1dy350f9dun9v27dcohr height=600 width=600 /]

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4 Responses to “US Bank National Association, v. Guillaume, et al. | New Jersey Supreme Court Says Lenders Must Be Named in Foreclosures”

  1. Eugene Villarreal says:

    It says that the alleged Lender name must be on the Notice of Intent but, the statue states that it must named on the Notice of Intent BEFORE the bank(alleged lender) files a foreclosure COMPLAINT not before it seizes the property. The court states that the LEGISLATURE was mistakenly in implying that it adhere to strict compliance to the statue. The court as in this case uses it’s DISCRETION to allow the bank to CURE the Notice of Intent as many times as it needs to before judgment. Legislature v. Discretion.

  2. Eugene Villarreal says:

    New Jersey judicial system is corrupt at all levels. This ruling showcases Supreme Court Justice Rabner’s integrity of the courts in the entire state. The courts and judges(there are a few good judges out there) are COMPLICIT in the fraudulent foreclosures in their use of fraudulent DISCRETION to appease the banks. If you just look at who is fighting for the homeowners in this state, you see that it is Legal Services of New Jersey(LSNJ) and who is fighting for the banks you see the four foreclosure mills and bankers associations…etc. The homeowners have the law on their side and the banks have the judges, courts, government, politicians on their side.
    Other than LSNJ helping homeowners, there is only one other organization that I know of that is helping New Jerseyans and others fight their foreclosures, http://www.afnetwork.org.
    If attorneys stop looking at Profit and look at Justice for at least one case, Due Process will once again be the law of the land.

  3. Pat says:

    You can tell that in the end the judges are in bed with the banks. This is a big win for them. THis means a NOI can be filed with clearly wrong information and be corrected at any time while the case keeps moving forward. For sure, since the judge can now decide what avenue to take when the NOI is deficient, his golf buddy lawyer friends will surely get the sweet end of the deal.

    To allow the NOI to be corrected with the proper name of the lender is absurd. It goes against the very language of the notice and the meaning of the FFA. A Notice of INTENT to Foreclose should contain all the necessary and correct information BEFORE the foreclosure suit begins and should not be amended in mid-process. This allows the lawyer/bank to put Mr Magoo as the lender and then change it at any time. New Jersey is such a criminal enterprise.

  4. DANIELA says:

    no one in the state of nj protect homeowners from lenders fraud
    all or most of the judges in new jeresy rubber stamp any and all fraud put in front of them by the banks.fight back people dont give up god allmighty is on your side

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