Bergman & Gutierrez –

On March 4, 2014, Bergman & Gutierrez argued an important foreclosure case before the 9th Circuit Court of Appeals. Deborah Gutierrez argued Junod v. MERS et al., before a 3 judge panel of the Ninth Circuit Court of Appeals. The case involves issues similar to those in Glaski v. Bank America– whether a homeowner can challenge a foreclosure by claiming that a post-closing date transfer into a securitized trust governed by New York Trust law was void. While this issue involves a complex analysis of California law, New York trust law, and IRS codes, the issue is relatively simple. The theory advanced by the Plaintiffs in this case was that as U.S. Bank as Trustee for the CSMC Trust Mortgage Backed 2006-6 did not actually own the mortgage loan on which it foreclosed. More specifically, the Plaintiffs claimed that the Assignment of Deed of Trust, dated April 16, 2010, purporting to assign their mortgage loan to a securitized trust with a “closing date” of June 29, 2006, was void since the trust had closed years before in 2006. Thus, U.S. Bank as the trustee, could not have validly accepted the untimely transfer of the mortgage.

The plaintiffs in this case lost their home to a foreclosure in May 2011. Although plaintiffs tried to avoid foreclosure by negotiating with Wells Fargo’s servicing company, America’s Servicing Company, U.S. Bank nevertheless foreclosed and sold their home at auction. Despite seeking information from U.S. Bank and ASC concerning why ASC refused to provide them with a modification after entering into several trial loan modification plans, plaintiffs lost their home of over 25 years in March 2011.

continue to listen to B&G argue this foreclosure case [BERGMAN & GUTIERREZ]