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CHASE
Bank Recent Court Cases Regarding Mortgage Foreclosures
Bakenie
v. JPMorgan Chase, Case
No. SACV12-0060 JVS
U.S.
District Court, Central District of California (Santa Ana) 1/13/2012
Joseph Arthur Roberts, Newport Beach, CA, attorney for Ernest Bakenie
Joseph Arthur Roberts, Newport Beach, CA, attorney for Ernest Bakenie
Plaintiff
alleges that J P Morgan Chase is engaged in the business practice of deceiving
bankruptcy judges, creditors, debtors, and attorneys as to Chase's status as a
secured creditor in thousands of bankruptcy cases filed nationwide.
Through
fabricated assignments, endorsements and affidavits that purport to transfer
Deeds of Trust, notes and the rights to money due under thousands of
non-negotiable promissory notes, Chase is playing "hide-and-seek"
with debtors and judges.
Where are
the wet signed notes and deeds that are stored in numerous locations? How many
were tossed in the trash?
The complaint
seeks an order vacating all Bankruptcy orders, claims and awards granted based
on Chase's misrepresentations and deceptive business practices. A case to
follow, anxious to learn the outcome? Is Jamie Dimon unfairly gaming the
courts?
Naranjo v. SBMC Mortgage, 2012 U.S. Dist. LEXIS 103735, Case No. 11-cv-2229-L(WVG) July 2012
M. James Lorenz, District Judge, U.S. District Court, Southern District of California
Penelope Bergman, Deborah Gutierrez, Los Angeles, CA, attorneys for Carmen Naranjo
"The allegation in this case is the assignment of the loan into the WAMU Trust was not completed by May 30, 2006 as required by the Trust Agreement. This allegation gives rise to a plausible inference that the subsequent assignment, substitution, and notice of default and election to sell may also be improper. Defendants wholly fail to address that issue. This reason alone is sufficient to deny Defendants' motion with respect to this issue."
Settled on June 21, 2013.
Other legal mortgage issues continue to haunt the banks:
Banks took short cuts to foreclose on owner occupants in cases still pending in California.
Notice of default did not include a declaration required by Cal. Civil Code §2923.5
MERS cases still churning in the court system
Time lines increased for lenders to make work outs
Values have increased perhaps getting some homeowners back into the black
Will Orange County's recovery be enough to stop foreclosures? The numbers of notice of defaults in Orange County, California have greatly reduced. This is due to values climbing.
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