Ocwen Loan Servicing, LLC v. Elliott

After Elliott defaulted on his mortgage GMAC Mortgage sued to foreclose. The circuit court granted GMAC summary judgment on his right to foreclose, finding (1) Freddie Mac was the owner of the promissory note (Note), and GMAC was the Note’s holder and servicer; and (2) GMAC, as holder and service, had authority to enforce the Note. Elliott appealed, arguing that GMAC lacked standing at the time it initiated foreclosure. The Supreme Court affirmed, holding that the circuit court did not err by granting GMAC’s motion for summary judgment because GMAC ultimately provided a properly indorsed bearer Note, mortgage, and evidence of default, thus providing evidence that GMAC had standing. View "Ocwen Loan Servicing, LLC v. Elliott" on Justia Law