Cal. Supremes Opine Yvanova May Sue on Void Assignment. The court made the point that a borrower needs such a protection in a non-judicial foreclosure. Otherwise, anybody could order a foreclosure and force a sale of the property for borrowers NOT in default.
By William Hudson Last week the California Supreme Court ruled in Yvanova v. New Century mortgage corporation (case No. S218973, Cal. Sup. Ct. February 18, 2016) that homeowners have standing to challenge a note assignment in an action for wrongful foreclosure on the grounds that the assignment is void.
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by California Lawyer, TFMetals Report This is too important to not share. I found out about this last week, and wanted to get an update out there. But, there are absolute legal wizards on this who are far better and concise at stating the importance of this decision by the California Supreme Court, UPHOLDING the right of someone who claims their home was taken illegally by a shady bank that.
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Essentially, despite expounding on the issues for 30 pages, the opinion just stands for the unremarkable (and, largely, undisputed) proposition that a borrower has standing to sue for wrongful.
(Yvanova, supra, 62 Cal.4th at pp. 942-943.) "Unlike a voidable transaction, a void one cannot be ratified or validated by the parties to it even if they so desire." (Id. at p. 936.) Yvanova expressly offers no opinion as to whether, under New York law, an untimely assignment to a securitized trust made after the trust’s closing date is.
CFPB names another acting deputy director According to media reports, President Trump is expected to name Mick Mulvaney, the current Director of the Office of Management and Budget, to serve as CFPB Acting Director upon Director Cordray’s resignation. The President’s announcement may come as soon as today.