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JPMorgan Chase Bank, N.A. v. Erlandson

Court of Appeals of Minnesota
821 N.W.2d 600 (2012)


Facts

Trevor and Melissa Erlandson (defendants) took out a loan from Homecomings Financial, LLC (Homecomings) in exchange for a promissory note secured by a mortgage. Legal title to the mortgage was assigned to JPMorgan Bank, N.A. (Chase) (plaintiff). The underlying promissory note was not formally assigned to Chase. The Erlandsons defaulted, and Chase sued for judicial foreclosure. The district court granted summary judgment to Chase. Chase then purchased the property at a sheriff’s sale and waived any right to a deficiency judgment. Upon Chase’s motion, the district court confirmed the sale. The Erlandsons appealed, arguing that Chase could not foreclose on the mortgage because it did not possess the underlying promissory note.

Rule of Law

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Issue

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Holding and Reasoning (Hooten, J.)

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  • A “yes” or “no” answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

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