U.S. Bank National Association v. Ibanez
Massachusetts Supreme Judicial Court
941 N.E.2d 40 (2011)
- Written by Sean Carroll, JD
Facts
This holding combines two cases with almost identical facts. U.S. Bank National Association (U.S. Bank) and Wells Fargo Bank, N.A. (Wells Fargo) (plaintiffs) each foreclosed on a property and each bought the property back at the foreclosure sale. They each filed a claim seeking declarations that they were the fee simple owners of the foreclosed properties. U.S. Bank claimed that it was assigned its mortgage under a trust agreement, but it never presented the trust agreement to the court. U.S. Bank did submit a private placement memorandum (PPM) that indicated that the mortgage “will be” assigned to the trust. Wells Fargo also claimed that it was assigned its mortgage. To back up that claim, Wells Fargo presented an unsigned copy of a pooling and servicing agreement (PSA) as well as a mortgage loans schedule that purportedly included the mortgage at issue, but contained only loan amounts zip codes, and cities, and not property addresses, mortgagors’ names, or loan numbers. The trial judge ruled against the plaintiffs. The plaintiffs appealed.
Rule of Law
Issue
Holding and Reasoning (Gants, J.)
Concurrence (Cordy, J.)
What to do next…
Here's why 778,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,200 briefs, keyed to 988 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.
