Lets see all the amended complaints that will hit the road…lets see how they’ll manage to clean up Baum’s docs.
HW-
A few weeks after losing one of its designated New York foreclosure law firms with the closing of the Steven J. Baum law offices, Freddie Mac added three firms to its New York network.
A spokesperson for the company confirmed Tuesday that it named the following businesses to its designated default law network in New York: Sheldon May & Associates, the Law Offices of Jordan Katz, and Sweeney, Gallo, Reich & Bolz.
Your House May Be Taken Away By A Ham Sandwich Richard F. Kessler, Esq. In-house Counsel and Special Consultant to BP Investigative Agency (BPIA)
Recently some courts have so watered down the requirements to enforce foreclosure that today even a ham sandwich can take your home. With a new wave of foreclosures just around the corner after the New Year, more and more courts have come to realize that enforcement of the legal rights of mortgage debtors will render many mortgages unenforceable. These judges act as if compliance with foreclosure laws could lead to the collapse of the banking system.
In a surge of conservative judicial activism, unlike anything ever seen before, judges who strictly construe the right of eminent domain (the right for the government to take your property) have assisted banks in seizing homes when the homeowner failed to make payments absent any showing that the bank was entitled to receive the payments allegedly in default. The court grants the bank foreclosure even if the defaulted payments were due and owing to someone else. Under this theory, if my neighbor fails to make car payments to the dealer who financed the vehicle, a judge will allow me to seize the car.
continue below for 11 defenses a homeowner should consider, what is going wrong in some of our courts, and how to fix this mess…
Nevada attorney general accuses the company of document fraud and illegal fee-splitting. Shares are likely to continue to decline.
MSN-
The shares of Lender Processing Services (LPS +1.87%) came under fire Friday, dropping nearly 20% on unusually high volume after Nevada Attorney General Catherine Cortez Masto filed fraud charges against the company.
Although LPS, a billion-dollar company by market capitalization, has several business lines, the fraud charges relate to its largest (by revenue) default services division. Given the nature of the charges and the mound of evidence AG Masto cites in the complaint, Friday’s fall in share price is likely only the beginning.
In recent years, LPS’s default servicing division has come under fire for two practices central to the attorney general’s charges: document fraud and illegal fee-splitting. Both types of claims go right to the heart of LPS’s business model.
In their heyday, these strange hybrids — part corporation, part government agency — were the biggest bullies in Washington, quick to bludgeon critics who dared suggest that their dual missions of maximizing profits while making homeownership affordable for low- and moderate-income Americans were incompatible. They steamrolled their regulator and pushed back at any suggestion that their capital was inadequate.
WASHINGTON. D.C. – In December of 2008, House Committee on Oversight and Government Reform Chairman Darrell Issa (R-CA), then the Committee’s Ranking Member, launched an investigation into Countrywide Financial Corporation’s infamous VIP and Friends of Angelo Program that exposed the inner workings of Countrywide’s efforts to buy friends in critical government and industry positions affecting the company’s business interests. Today, Chairman Issa issued a wide-ranging subpoena to Bank of America for all documents and records related to Countrywide’s VIP program.
“Countrywide orchestrated a deliberate and calculated effort to use relationships with people in high places in order to manipulate public policy and further their bottom line to the detriment of the American taxpayers even at the expense of its own lending standards,” said Issa. “This subpoena will allow us to obtain the information needed to answer the outstanding public interest questions regarding the full size and scope of the VIP program. The American people have a right to know the totality of who participated in the Countrywide’s VIP program and what they did in return for access to it. Our role is to get all of the facts so that the American people can judge for themselves who should be held responsible and accountable.”
The subpoena compels Bank of America to produce the following by noon on March 7, 2011:
All documents, including emails, related to covered borrowers serviced by Countrywide Financial through the Branch 850 and/or VIP and/or Friends of Angelo program.
All documents, including e-mails, transmitted by Countrywide officials notifying a covered borrower of membership in the VIP and/or Friends of Angelo program.
All documents, including e-mails, transmitted between and among Countrywide officials discussing the purposes and goals of the VIP and/or Friends of Angelo program.
Documents sufficient to show the number of persons enrolled in the VIP and/or Friends of Angelo program for each of calendar years 1996-2008, and the city and state of residence of such persons who were covered borrowers.
The term “covered borrowers” means at the time of the loan the borrower, or their spouse, was:
A current or former officer or employee of a federal agency
A current or former Member, officer, or employee of the U.S. Congress
A current or former officer or employee of a government-sponsored enterprise
A current or former officer or employee of a state or local government
JPMorgan Chase & Co.’s chief executive, Jamie Dimon, told investors at the beginning of 2011 that potential repurchases of private-label mortgage securities are “not that material” for his bank — an assertion that increasingly appears to be in doubt.
Dimon might not be quite so confident these days. Gibbs & Bruns LLP, the law firm that negotiated an $8.5 billion mortgage repurchase settlement with Bank of America Corp. on behalf of a group of large investors, has announced that it is seeking put-backs on $95 billion in private-label mortgage-backed securities issued by JPMorgan Chase, Washington Mutual Inc. and Bear Stearns. Private-label securities are mortgage-backed securities or other bonds that are created and sold by companies other than government-sponsored entities like Fannie Mae and Freddie Mac.
They will not survive this time around as the complaint is pretty much bulletproof.
PRNEWS-
Unfortunately, the company’s efforts to engage in meaningful discussions with the Nevada Attorney General’s office have been frustrated by the Nevada Attorney General’s decision to outsource its investigation to Cohen Milstein Sellers & Toll PLLC, a plaintiff’s law firm located in Washington, D.C., in apparent violation of Nevada law. The complaint highlights misconceptions about LPS and seeks to sensationalize a variety of false allegations in a misleading manner.
Bank foreclosures and abandonment are causing high home vacancy levels in neighborhoods across the country. Scott Pelley travels to Cleveland, a city that’s fighting back against blight.
For all those AG’s who ARE doing their job to protect the people (tiny handful only), we thank you very much.
This is BIG NEWS!
FDL-
As other Attorneys General took the lead in efforts to fight foreclosure fraud, with lawsuits from Delaware’s Beau Biden, Massachusetts’ Martha Coakley and Nevada’s Catherine Cortez Masto, we hadn’t heard as much from New York’s Eric Schneiderman lately. But he’s back in the news, teaming with a federal Inspector General on an investigation:
The federal watchdog overseeing US mortgage giants Fannie Mae and Freddie Mac is joining forces with New York’s attorney-general to investigate banks’ mortgage securitisation practices, a partnership that could make it easier for authorities to bring fraud charges against Wall Street companies.
Eric Schneiderman, New York attorney-general, and Steve Linick, the inspector general supervising Fannie and Freddie and the Federal Housing Finance Agency (FHFA), the unit responsible for the taxpayer-owned home loan financiers, signed a co-operation agreement in recent weeks that allows the two investigators to share documents, findings and to pool their resources, according to people familiar with the matter.
The collaboration escalates Mr Schneiderman’s probe into roughly a dozen banks and mortgage insurers as part of a broad investigation into whether banks properly bundled hundreds of billions of dollars worth of home loans into now-soured securities sold to investors.
Lax is a major understatement given the Atomic Bomb Nevada AG just dropped… on an Organization Bondi claims is investigating, with headquarters in Florida!
Orlando Sentinel-
As attorneys general in other foreclosure-battered states step up their investigations into fraudulent mortgage practices by large U.S. banks, some Florida groups are accusing state Attorney General Pam Bondi of being soft on the giant lenders.
Florida’s Democratic state senators recently released a video that targets Bondi, a Republican elected to a nonpartisan office. Titled “Ignoring the Florida Foreclosure Crisis,” the video contrasts new fraud investigations launched by California Attorney General Kamala Harris with controversial forced resignations of two key mortgage-fraud investigators in Bondi’s Fort Lauderdale office.
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW JERSEY
CHARLES GILES, et al., Plaintiffs,
v.
PHELAN, HALLINAN & SCHMIEG, L.L.P., et al., Defendants.
This matter is before the Court on the motion for temporary restraints and entry of a protective order by Defendants Phelan Hallinan & Schmieg, P.C., Francis S. Hallinan, Rosemarie Diamond, Full Spectrum Services, Inc., and Land Title Services of New Jersey, Inc. (“Moving Defendants”) [Docket Item 5]; the Court having received briefing in support of the motion by the Moving Defendants on November 21, 2011 and in opposition to the motion by Plaintiffs on November 28, 2011; the Court having heard oral argument on the motion from the Parties at a hearing on November 28, 2011;
For the reasons articulated in the Oral Opinion read into the record at the November 28, 2011 hearing; and for good cause shown
IT IS, this 28th day of November, 2011, ORDERED that the motion for temporary restraints and entry of a protective order shall be, and hereby is, DENIED without prejudice.
s/ Jerome B. Simandle JEROME B. SIMANDLE U.S. District Judge
Helping Homeowners Harmed by Foreclosures: Ensuring Accountability and Transparency in Foreclosure Reviews
Written Testimony of Alys Cohen
National Consumer Law Center also on behalf of Community Legal Services of Philadelphia, Connecticut Fair Housing Center, Consumer Action, Consumers Union, Empire State Justice Center, Financial Protection Law Center, Housing and Economic Rights Advocates, Legal Aid Center of Southern Nevada, Inc., Michigan Foreclosure Task Force, National Association of Consumer Advocates, National Council of La Raza, National Community Reinvestment Coalition, National Fair Housing Alliance, National People’s Action, Neighborhood Economic Development Advocacy Project, North Carolina Justice Center
Before the United States Senate Subcommittee on Housing, Transportation, and Community Development of the United States Senate Committee on Banking, Housing, & Urban Affairs
Document fraud infects many if not most foreclosures across the country, and Lender Processing Services (LPS) is a major reason why. As a result, many are celebrating Nevada Attorney General Catherine Cortez Masto’s civil fraud suit against the company. Her suit details, based on numerous witnesses’ testimony, documents, and other evidence, how LPS’s business model was deceptive and fraudulent.
LPS organized its workforce to churn out documents that were replete with lies, improperly directed foreclosure and bankruptcy attorneys, misrepresented its fees, and made numerous misleading statements to investors. Frankly, it’s hard to see how LPS survives this suit and the shareholder and other cases that are sure to follow.
The suit’s tremendous clarity and detail raise several questions beyond “when will LPS declare bankruptcy?”
“Obama may talk of the “99 percent” but his administration is engaged in an aggressive coverup of bank crimes.”
Politico-
Bubbling under the surface of politics is the foreclosure crisis — where the power of big finance is brushing up against the rule of law. The party leaders seem to have decided it is essentially a giant — but unavoidable — tragedy. GOP presidential candidate Mitt Romney said foreclosures have to clear for the housing market to reset. The Obama administration, meanwhile, has spent only about $2 billion of the $75 billion authorized for the Home Affordable Modification Program.
But the foreclosure crisis is not only a few million personal tragedies. It is a few million crime scenes.
Leave it up to Abigail to set the record straight!
Abigail C. Field-
The SEC has sued former executives of Freddie Mac and Fannie Mae for repeatedly lying to investors about their companies’ subprime portfolios. The complaints are very detailed and strong, alleging multiple securities law violations and violations of Sarbanes-Oxley. The complaints try to force the executives to give up their ill-gotten gains, pay penalties, and ban them from being a director or officer of a public company. Interestingly, the complaints are backed by separate cooperation and nonprosecution agreements with each company.
Just more of the same, except they still hold millions from the fraud!
Looks like taxpayers will also be picking up this tab!
Reuters-
Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies’ exposure to risky home loans in the run-up to the 2008 financial crisis.
The case is one of the U.S. Securities and Exchange Commission’s biggest actions against high-level financial industry executives, although the regulator did not specify a dollar amount for damages in the alleged fraud. Many lawmakers consider Fannie Mae and Freddie Mac at least partly responsible for the 2008 crisis, saying they encouraged lax lending to home buyers that led to a massive real estate bubble.
Superintendent Lawsky Protects Homeowners In Foreclosure From Delays Caused By Abusive Law Firm’s Closing
Significant Delays Expected After Closing of Steven J. Baum P.C.; Firm Handled an Estimated 40% of New York Foreclosures.
Benjamin M. Lawsky, Financial Services Superintendent, today said homeowners facing foreclosure should not have to pay additional costs or penalties because of the closing of the largest foreclosure law firm in New York. “New Yorkers facing foreclosure should not be penalized in any way because of delays which may arise because many mortgage servicers will now need to find new counsel. It adds insult to injury for New Yorkers to suffer further as a result of the shuttering of this abusive and discredited firm,” Superintendent Lawsky said. In an industry-wide letter to mortgage servicers operating in New York, Superintendent Lawsky said servicers should proceed expeditiously to substitute new counsel in foreclosure cases previously handled by the Steven J. Baum law firm, which closed last month. However, he said homeowners should not be charged penalties, fees, costs or interest accrued as the direct result of delays caused by the Baum firm’s closing and the substitution of counsel.
A leading mortgage servicer, Ocwen Financial Corporation, has already signed an agreement with the Department of Financial Services (DFS) promising to refrain from charging homeowners for such costs. Ocwen agreed it would not penalize homeowners affected by the Baum closing in an amendment to an agreement reached in September with DFS to adhere to groundbreaking mortgage servicing reforms designed to address troublesome practices in the servicing industry generally.
Based in Amherst in Erie County, Baum closed after being fined $2 million by the federal government for its foreclosure practices, including allegations of “robo-signing,” and after Freddie Mac and Fannie Mae removed the firm from their lists of approved law firms.
The Baum firm represented plaintiffs in an estimated 40 percent of the foreclosure proceedings in New York in 2010. Servicers across the state will now have to hire new counsel, who will have to gather and review case files, and ask courts for the approval of new legal representation. As a result, significant delays in pending foreclosure cases are expected.
In the letter to servicers, Lawsky noted that one Baum attorney had asked for a 60 to 90 day continuance for a settlement conference in order to facilitate a change in counsel. Such a delay could cost a homeowner between $1,540 and $2,310 in additional interest charges based on a $150,000 mortgage at a 6.5 percent interest rate.
Meanwhile on December 12, 2011, another mortgage servicer, Specialized Loan Servicing LLC, became the eighth servicer to agree to adhere to the landmark reforms in Lawsky’s Agreement on Servicing Practices. The others are Ocwen, Morgan Stanley, Saxon, American Home Mortgage Servicing, Vericrest Financial, Goldman Sachs Bank and Litton Loan Servicing. Specialized Loan Servicing LLC, headquartered in Highlands Ranch, Colorado, services more than 216,000 loans nationally with a total unpaid principal balance of more than $16.4 billion and more than 5,800 loans in New York with a total unpaid principal balance of more than $829 million.
Specialized also agreed to refrain from charging homeowners for costs due to delays caused by the Baum firm closing or substitution of counsel.
“I commend Specialized Loan Servicing for being a leader and agreeing to adhere to these higher standards that protect homeowners from abuse. The Cuomo Administration has made it clear that we will do everything possible to see that fair and sensible reforms are put in place in the mortgage industry,” Lawsky said. “Moreover, with the letter issued to the servicing industry today, we are ensuring that borrowers facing foreclosure will not be charged for delays in court appearances, including settlement conferences, which may occur through no fault of their own due to the Baum firm closing.”
Kirsten Keefe, Senior Attorney in the Albany office of Empire Justice Center said, “Empire Justice Center applauds the NYS Department of Financial Services for taking swift steps to prevent any negative financial impact on the thousands of distressed homeowners affected by the closure of the Baum firm. There is a misperception that foreclosure delays benefit homeowners, but that is not the case. Not only is there a psychological cost to homeowners when cases drag on, but there are serious and significant financial consequences as hundreds to even thousands of dollars of additional interest accrues each month a loan languishes in foreclosure. Every dollar of added interest, fees or costs jeopardizes a homeowner’s ability to save their home. We hope the DFS’s actions today are embraced quickly by all servicers so that these innocent homeowners are not left paying for the mistakes of others.”
Josh Zinner, Co-Director of the Neighborhood Economic Development Advocacy Project (NEDAP), said: “The abusive foreclosure practices of the Baum law firm have caused great harm to homeowners and communities throughout the state. We strongly support efforts by the Department of Financial Services to ensure that New York homeowners are not penalized by mortgage servicers for the demise of the Baum law firm.”
Chuck Bell, Programs Director of Consumers Union, said: “Foreclosure proceedings are traumatic enough for consumers, without the pain and expense of lengthy legal delays, higher interest charges and fees. We applaud the Cuomo administration’s efforts to provide vigorous oversight of mortgage servicing practices, and protect New York consumers against the huge potential disruption caused by the closure of the Baum law firm.”
The agreements announced today were arranged through the work of Executive Deputy Superintendent Joy Feigenbaum of the Financial Frauds & Consumer Protection Division, Associate Counsel Brian Montgomery, Assistant Counsel Max Dubin and Associate Counsel Ellen Buxbaum with the assistance of Deputy Superintendent of Mortgage Banking Rholda Ricketts.
5. Following the exposure of deceptive document execution practices at DOCX
[…]
15 Georgia, LPS then misrepresented that it had processes and internal controls in place at the LPS 16 Default Solutions office in Minnesota to ensure that affidavits were signed properly and in 17 accordance with industry standard. LPS senior executives expressly contradicted these 18 representations in sworn court testimony.
FOR IMMEDIATE RELEASE Contact: Jennifer López DATE: December 16, 2011 702-486-3782
NEVADA ATTORNEY GENERAL SUES LENDER PROCESSING SERVICES FOR CONSUMER FRAUD
Carson City, NV – Attorney General Catherine Cortez Masto announced today a lawsuit against Lender Processing Services, Inc., DOCX, LLC, LPS Default Solutions, Inc. and other subsidiaries of LPS (collectively known “LPS”) for engaging in deceptive practices against Nevada consumers.
The lawsuit, filed on December 15, 2011, in the 8th Judicial District of Nevada, follows an extensive investigation into LPS’ default servicing of residential mortgages in Nevada, specifically loans in foreclosure. The lawsuit includes allegations of widespread document execution fraud, deceptive statements made by LPS about efforts to correct document fraud, improper control over foreclosure attorneys and the foreclosure process, misrepresentations about LPS’ fees and services, and evidence of an overall press for speed and volume that prevented the necessary and proper focus on accuracy and integrity in the foreclosure process.
“The robo-signing crisis in Nevada has been fueled by two main problems: chaos and speed,” said Attorney General Masto. “We will protect the integrity of the foreclosure process. This lawsuit is the next, logical step in holding the key players in the foreclosure fraud crisis accountable.”
The lawsuit alleges that LPS:
1) Engaged in a pattern and practice of falsifying, forging and/or fraudulently executing foreclosure related documents, resulting in countless foreclosures that were predicated upon deficient documentation;
2) Required employees to execute and/or notarize up to 4,000 foreclosure related documents every day;
3) Fraudulently notarized documents without ensuring that the notary did so in the presence of the person signing the document;
4) Implemented a widespread scheme to forge signatures on key documents, to ensure that volume and speed quotas were met;
5) Concealed the scope and severity of the document execution fraud by misrepresenting that the problems were limited to clerical errors;
6) Improperly directed and/or controlled the work of foreclosure attorneys by imposing inappropriate and arbitrary deadlines that forced attorneys to churn through foreclosures at a rate that sacrificed accuracy for speed;
7) Improperly obstructed communication between foreclosure attorneys and their clients; and
8 ) Demanded a kickback/referral fee from foreclosure firms for each case referred to the firm by LPS and allowed this fee to be misrepresented as “attorney’s fees” on invoices passed on to Nevada consumers and/or submitted to Nevada courts.
LPS’ misconduct was confirmed through testimony of former employees, interviews of servicers and other industry players, and extensive review of more than 1 million pages of relevant documents. Former employees and industry players describe LPS as an assembly-line sweatshop, churning out documents and foreclosures as fast as new requests came in and punishing network attorneys who failed to keep up the pace.
LPS is the nation’s largest provider of default mortgage services, processing more than fifty percent of all foreclosures annually.
The Office of the Nevada Attorney General recently indicted Gary Trafford and Gerri Sheppard as part of a separate, criminal investigation into the conduct of robo-signing scheme which resulted in the filing of tens of thousands of fraudulent documents with the Clark County Recorder’s Office between 2005 and 2008.
Nevada homeowners who are in foreclosure or are facing foreclosure are advised to seek assistance as soon as possible. Homeowners can find information for a counseling agency approved by the U.S. Department of Housing and Urban Development (HUD) by calling 800-569-4287 or by visiting http://1.usa.gov/NVCounselingAgencies.
Anyone who has information regarding this case should contact the Attorney General’s Office hotline at 702-486-3132 (when promoted select “0”) to obtain information on how to submit a written complain. Nevada consumers can file a complaint with the Nevada Attorney General’s Office about LPS by sending a letter with copies of any supporting documentation to the Nevada Office of the Attorney General, Bureau of Consumer Protection: 555 E. Washington Ave Suite 3900, Las Vegas, Nevada 89101
Read the complaint by visiting: http://bit.ly/LPScomplaint ###
Attorney General Michael Delaney confirmed he’s actively investigating the claims of Milford Executive Councilor David Wheeler that major national banks fraudulently moved to foreclose upon several of his constituents.
Wheeler said he’s talked to four homeowners who tried without success to reach “catch-up agreements” with Bank of America and Wells Fargo to get up to date on their home mortgage payments.
“I want the state taking an active role to try and make sure these homeowners in danger of losing all they have, by no fault of their own, are made whole,” Wheeler said in an interview.
Plaintiff’s attorney in this case is Peter T. Roach and Associates, 125 Michael Drive, Suite 105, Syosset, NY 11791
Anthony J. Cutrona, J.
Recitation, as required by CPLR §2219(a), of the papers considered in the review of this motion:
PapersNumbered
Order to Show Cause/Notice of Motion and
Affidavits/Affirmations Annexed………………………………1
Answering Affidavits/Affirmations……………………………
Reply Affidavits/Affirmations…………………………………..
Memoranda of Law………………………………………………….
Other……………………………………………………………………….
Plaintiff’s brings this application for an Order of Reference, in this mortgage foreclosure action. The mortgagor, Howard Smith has not served an answer and is in default.
Plaintiff was assigned the subject mortgage for 424 Hart Street, Brooklyn, on January 11, 2008 by the assignor Mortgage Electronic Registration Systems (MERS).[FN1] The mortgage was executed on December 8, 2006, between the lender, American Brokers Conduit and the borrower, Howard Smith. In the mortgage, it is stated that MERS “is a separate corporation that is acting solely as a nominee for Lender and [*2]Lender’s successors and assigns.”
MERS, was not a party to the underlying note, for $568,000, also dated January 11, 2008, between American Brokers Conduit and Howard Smith. Accordingly, when MERS assigned the mortgage to Plaintiff, Citigroup Global Markets Realty Corp. there was no assignment of the subject note and “a transfer of [a] mortgage without the debt is a nullity, and no interest is acquired by it.” (citations omitted) Bank of New York v Silverberg, 86 AD3d at 280, (2nd Dep’t, 2011). Apparently., there was an attempt made to transfer the note to Plaintiff, as the note contains an undated endorsement to Citimortgage, Inc., which is obviously a different corporate entity than the Plaintiff, Citigroup Global Markets Realty Corp. There is no evidence submitted as to the relationship between these two corporations. There is also no evidence that Plaintiff owns this note.
The Appellate Division, Second Department’s decision in Silverberg, holds that a plaintiff does not have standing to bring a foreclosure action if, as here, it does not own the note. Here, any objection to Plaintiff’s standing has been waived, as the debtor has not served an answer or moved to dismiss. See, Wells Fargo Bank Minn., N.A. v Mastropaolo, 42 AD3d 239, 242 (2nd Dept, 2007).Notwithstanding this waiver on standing, it would be inappropriate to grant Plaintiff an order of reference, where it is clear that it cannot make out its prima- facie case of entitlement to Judgment. In Horizon Bancorp v Pompee, 82 AD3d 935 (2d Dept 2011) ), the Court held that “[t]o establish a prima facie case in an action to foreclose a mortgage, the plaintiff must establish existence of a promissory note and a related mortgage referable to the subject property, its ownership of the mortgage, and the default of the defendant.” ( See Campaign v Barba, 23 AD3d 327 (2nd Dep’t, 2005), Ocwen Federal Bank FSB v. Miller, 18 AD3d 527 (2d Dept 2005).
In the present case, since the assignment of the mortgage from MERS to Citigroup Global Markets Realty was a nullity, and no interest was acquired by it (See, Silverberg, supra), the Plaintiff cannot show that it owns the mortgage and consequently does not meet its burden of making out a prima facie case. “Where a valid cause of action is not stated, the party moving for judgment is not entitled to the requested relief, even on default.” Green v Dolphy Constr. Co. 187 AD2d 635 (2nd Dep’t, 1992)
Accordingly, Plaintiff, Citigroup Global Markets Realty Corp’s application for an Order of Reference is denied.
This shall constitute the decision and order of the Court.
ENTER:
_________________________
ANTHONY J. CUTRONA
Justice, Supreme Court [*3]
Footnotes
Footnote 1: “In 1993, the MERS system was created by several large participants in the real estate mortgage industry to track ownership interests in residential mortgages.” Matter of Merscorp, Inc. v. Romaine, 8 NY3d 90, 96 (2006). For a detailed overview of the MERS system see, Matter of Merscorp, supra and Bank of New York v. Silverberg, 86 AD3d 274 (2nd Dep’t, 2011)
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