Bank Of America v. Kabba

276 P.3d 1006 (2012)

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Nature of the Case

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Facts

P, claiming to be the present holder of a mortgage note initiated a foreclosure action against D. P claimed to hold the note and mortgage as Successor by Merger to LaSalle Bank National Association, as Trustee under the Trust Agreement for the Structured Asset Investment Loan Trust Series 2004-BNC2. The note shows a blank indorsement. This blank indorsement was filed with the lower court for the first time in the motion for summary judgment. The blank indorsement was not mentioned or referenced in the original petition. BNC Mortgage, Inc., was the original lender. P filed a document entitled 'Assignment of Real Estate Mortgage' on January 17, 2011, therein claiming the assignment to be effective as of February 9, 2010. This was nine months after the filing of the petition to foreclose. The assignment was signed by Mortgage Electronic Registrations Systems, Inc. (MERS), as nominee for BNC Mortgage, Inc. There was no mention of the note in this 'Assignment of Mortgage.' D appealed a summary judgment in favor of P. D contends that P did not have standing.