Thank you Marie McDonnell for this.
IN THE DISTRICT OF
HARRIS COUNTY TEXAS
151st JUDICIAL DISTRICT
MARY ELLEN WOLF AND
DAVID WOLF, on behalf of themselves and all others similarly situated,
v.
WELLS FARGO, N.A.,
AS TRUSTEE FOR CARRINGTON
MORTGAGE LOAN TRUST, TOM
CROFT, NEW CENTURY MORTGAGE CORPORATION, AND CARRINGTON MORTGAGE SERVICES, LLC.
excerpt:
Plaintiffs seek certification of a class consisting of “all persons and entities having a residential mortgage loan on real property in the State of Texas securitized into the 2006-NC4 Trust, with a court record, lien, claim, or claim against an interest in the real property filed in Texas after August 10, 2006, up to and including the date notice is first provided to the “Class,” and also seek certification of a subclass consisting of “all persons and entities that lost ownership to real property in the state of Texas resulting from a foreclosure initiated by Wells Fargo Bank, N.A., as Trustee for 2006-NC4 Trust after August 10, 2006 up to and including the date notice is first provided to the Class.” In support of this order, the Court makes the following FINDINGS OF FACT AND CONCLUSIONS OF LAW on the elements of this Rule 42 common-question class:
Wells Fargo Bank, N.A. (Wells Fargo”) is serving as trustee of the Carrignton Mortgage Loan Trust Series 2006-NC3 (“2006-NC3 Trust). As trustee, Wells Fargo is responsible for the assets that are allegedly held in the trust. According to McDonnell’s expert analysis, there is no evidence in the record showing the Wolfs’ Note and Security Instrument were properly negotiated, delivered, or transferred to all necessary parties in the securitization chain. This is required under the mortgage loan purchase agreement and the Pooling and Servicing Agreement (“P&S Agreement) in order to convey these instruments into the 2006-NC3 trust. There are fatal breaks in the chain of title which indicates these instruments were never transferred into 2006-NC3 Trust. In McDonnell’s expert opinion, Defendant Wells Fargo is not the current owner and holder of the Wolfs’ Note and Deed of Trust.
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