A Judge ruled that Chase “committed a fraud upon the Court” by claiming to be the plaintiff in a foreclosure action when FANNIE MAE was actually the owner of the note and mortgage (when the foreclosure action was commenced).
After Chase and the homeowner participated in nine settlement conferences, Chase was ordered to produce “all title and ownership documentation, including the note and all assignments…”
Geoffrey Broderick, the senior partner of the Resolution Law Group says, “Chase has been misrepresenting and mischaracterizing standing and ownership issues for years.” Broderick added, “MERS plays into this. MERS promotes an efficient transfer of ownership, but there is no transparency. Chase claims to be the owner, but there is no paper trail to support the allegation. In this rare instance, Chase got busted by the Court.”
Mr. Broderick adds that “The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself.”
The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, and intentionally ignoring underwriting standards and encouraging inflated appraisals.
The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com