An indorsement to a trustee is sufficient to establish standing to foreclose, in terms of the identity of the person or entity entitled to enforce the note, regardless of whether the identity of the trust is clear from note, together with any indorsements or allonges.
On January 23, 2019, the Fourth District Court of Appeal in Deutsche Bank Trust Company Americas, as Trustee for Residential Accredit Loans, Inc., Mortgage Asset Backed Pass Through Certificates, Series 2005-QS12 v. Harris, Case No. 4D17-3009 (Fla. 4th DCA 2019) reversed and remanded the lower courts involuntary dismissal for lack of standing as the endorsement on the note to Deutsche Bank Trust Company Americas, as Trustee was sufficient to establish standing pursuant to Fla. Stat. 673.3011(3)(b)(1), even though it did not specifically reference to the specific trust.
See also Bank of N.Y. Mellon Tr. Co., Nat'l Ass'n v. Ginsberg, 221 So. 3d 1196, 1197 (Fla. 4th DCA 2017), rev. denied sub nom. Ginsberg v. Bank of N.Y. Mellon Tr. Co., N.A., No. SC17-1468, 2018 WL 503421 (Fla. Jan. 22, 2018) (emphasis added).
Padgett Law Group (PLG) is pleased to announce that the firm has appointed Jay French as Chief Operating Officer (COO). French immediately assumes duties related to the day-to-day oversight and management of the firm’s operational activities associated with its creditors rights’ legal practice. PLG offers comprehensive default legal services in Florida, where the firm originated over 25 years ago; Georgia; Tennessee; Arkansas; and Texas. French is based out of the firm’s Atlanta office in the city’s financial services hub of Buckhead.
In his new role, French will report directly to Founder and Chief Executive Officer (CEO) Timothy D. Padgett. French previously provided management consulting services to the firm and steps into his role with a deep understanding of the firm’s work, people, and practice.
“Jay’s industry and corporate experience helped us reshape ourselves internally to better face the future of this business. After nearly a year of that process, it became clear that Jay had a long-term home at PLG and we couldn’t be more excited about this permanent addition to and expansion of our executive leadership team,” said Timothy D. Padgett, PLG Founder and CEO.
French has held numerous senior leadership roles in telecommunications, information technology, and financial services. His previous industry experience includes over three years as Vice President of Client Financial Services for Prommis Solutions. French holds a B.S. in Computer Engineering from Auburn University and an MBA in Finance from the Stetson School of Business and Economics at Mercer University - Atlanta. In his spare time, French spends time with his wife and three young adult children. He enjoys an active healthy lifestyle, while serving others through his genealogy expertise. Click here to contact Jay.
On December 6, 2018, the Eleventh Circuit Court of Appeals decided a case of first impression in Dukes v. Suncoast Credit Union. The issue before the Court was whether a chapter 13 plan’s reference to a claim as being paid outside the plan was “provided for” by the plan and thereby included in the discharge. The Eleventh Circuit concluded it was not discharged. This is excellent news for servicers.
On Friday, the Florida Supreme Court provided its decision in Glass v. Nationstar Mortgage, regarding the entitlement to attorney’s fees when the borrower prevails in litigation.
The Fourth District Court of Appeal had held that where a foreclosure case is dismissed for lack of standing, the borrower may not take advantage of the attorney fee provision of the mortgage to seek fees. The Florida Supreme Court quashed the decision of the Fourth District, and found that the borrower was entitled to attorney’s fees.
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