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SACCI v. MERS | CA Dist. Court “MYSTIFYING, UTTERLY CONFUSING ASSIGNMENTS, SUBSTITUTIONS, HOST OF ENTITIES, 2923.5″

SACCI v. MERS | CA Dist. Court “MYSTIFYING, UTTERLY CONFUSING ASSIGNMENTS, SUBSTITUTIONS, HOST OF ENTITIES, 2923.5″


UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA


ANGELA SACCI, et al

vs

MORTGAGE ELECTRONIC REGISTRATION SYSTEMS , INC,, et al


EXCERPT:

This Court has dealt with numerous mortgage-related cases, and in the process of wading through them it has learned that seemingly straightforward transactions -non – judicial foreclosures- are not at all routine. Indeed, all too often they are mystifying, because of the utterly confusing assignments, substitutions, and other transactions (some recorded, some not) conducted by a host of entities. The number and names of the defendants in Plaintiffs’ FAC only hint at what has now been revealed as the tangled story underlying this loan and the other loans involved in many of these cases.

[…]

Not only is Gomes distinguishable on it’s facts, the Gomes court actually suggested a cause of action for wrongful foreclosure might survive if “the plaintiff complaint identified a specific factual basis for alleging that the foreclosure was not initiated by the correct party.” Id. (emphasis in original). Here, Plaintiffs have alleged just such a specific factual basis – namely, that RCS was not yet the beneficiary under the DOT when it executed the Substitution of Trustee in favor of Fidelity.

[…]

[ipaper docId=58781067 access_key=key-2ma57pgu6yuw5rzqffai height=600 width=600 /]

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