Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
William A. Roper, Jr.
The Nevada Supreme Court also handed down a second decision on Thursday, July 7, 2011, which clarified the Nevada Foreclosure Mediation statute, NRS 107.086.  When the purported mortgage investor failed to bring the required documents to a state required mediation and also failed to negotiate in good faith, the Court held that the District Court erred in failing in denying the borrower/plaintiff's sanctions against HSBC.

The case is:
Pasillas v. HSBC Bank USA, No. 56393, 127 Nev. Adv. Op. No. 39 (Nev. 2011)
http://www.scribd.com/doc/59665111/Pasillas-v-HSBC-Bank-USA-07-Jul-2011

Due to the lateness of the hour, I am going to refrain from any in depth analysis, though I will made a couple of brief points.

First, note that in Foootnote 2, the Court expressly mentions the In Re Veal decision.  Regular Forum participants will recall that we expressly noted and featured that important case in a prior thread.  The Nevada Supreme Court clearly found that case to be of interest.

Second, like In Re Veal and Ibanez, this is another of the American Home Mortgage Servicing cases.

Third, note the discussion within Footnote 9 about assignments in blank.  It appears that the Nevada Supreme Court agrees that assignments in blank are nullities!

*

Whiel the Leyva decision may be influential in other deed of trust states, this decision may have more far reaching and immediate effects in Nevada.  It would appear that the Nevada Supreme Court just book the brakes on the corrupt business as usual foreclosure practices of the servicers and foreclosure mill law firms.

Your analysis and comments are solicited and appreciated!
Quote 0 0
William A. Roper, Jr.
See also:

Terrific Decision of 9th Cir. Bankruptcy Appellate Panel: In Re Veal

http://ssgoldstar.websitetoolbox.com/post?id=5348323

 

Distinguishing Indorsement In Blank and Assignment In Blank

http://ssgoldstar.websitetoolbox.com/post?id=5042928

 

Incomplete Instruments: Assignments in Blank

http://ssgoldstar.websitetoolbox.com/post?id=5375444 

Quote 0 0
William A. Roper, Jr.
Although I learned of the Nevada Supreme Court decisions independently, another foreclosure defense activist brought to my attention Adam Levitin's post on CreditSlips yesterday morning, which well preceded my early morning posts today. Of course, Professor Levitin's analysis always merits a read and a link seemed to appropriately belong here:
CreditSlips: "Nevada Supreme Court: You Gotta Prove Chain of Title", by Adam Levitin (July 8, 2011)
http://www.creditslips.org/creditslips/2011/07/you_gotta_prove_chain_of_title.html
Quote 0 0
William A. Roper, Jr.
The Las Vegas Review Journal has a story on the argument in these cases in its April 5, 2011, edition:

Las Vegas Review Journal: "Lenders' conduct in foreclosure program angers justices", by Doug McMurdo (April 5, 2011)

http://www.lvrj.com/news/lenders-conduct-in-foreclosure-program-angers-justices-119291304.html

Quote 0 0
William A. Roper, Jr.
See also the related decision in the Leyva v. National Default Servicing Corp case announced the same day that the Pasillas decision was handed down:

NV Supreme Court Clarifies That Valid Negotiation of Note Required To Enforce Mortgage Payable To Another Entity: Leyva v. National Default Servicing

http://ssgoldstar.websitetoolbox.com/post?id=5387002


Quote 0 0
William A. Roper, Jr.
Housing Wire has finally weighed in with a story on last weeks' Nevada Supreme Court decisions:

HousingWire: "Nevada Supreme Court offers foreclosure guidance to mortgage firms", by Kerri Panchuk (July 11, 2011)

http://www.housingwire.com/2011/07/11/nevada-supreme-court-offers-foreclosure-guidance-to-mortgage-firms

Quote 0 0
William A. Roper, Jr.
Las Vegas television station KSNV-TV NBC Channel 3 featured the Nevada Supreme Court's decisions on an evening edition of the news program Face to Face with Jon Ralston:

http://www.mynews3.com/category.php?id=5392&n=5035

 

See a teaser introduction and full segments 3 and 4. Mr. Ralston's guests were Attorney David Crosby and a representative of Legal Aid Center of Southern Nevada, Venicia Considine.


Ms. Considine encouraged borrowers to visit the Treasury's FREE NPV calculator:


https://checkmynpv.com/

Quote 0 0
William A. Roper, Jr.
I am advised that the link above to the KSNV-TV NBC Channel 3 Face to Face segments with Jon Ralston on the Nevada Supreme Court decisions is actually only a link to the current days' show.

The better permanent link is:


http://www.lasvegassun.com/videos/2011/jul/11/5327/

Quote 0 0
Write a reply...