New Jersey Court Rules That Securitization Trustee Is Holder In Due Course Of Mortgage Debt
LexisNexis (June 11, 2018, 1:20 PM EDT) -- A recent decision from New Jersey holds that US Bank, as trustee of a securitization trust, had standing to foreclose on a home mortgage, with power to take free of the debtors' defenses, including predatory lending. The New Jersey case is a poster child for the mortgage meltdown which led to the Great Recession.
The New Jersey case. In U.S. Bank Trust, N.A., as Trustee for LSF9Master Participation Trust, v. Lanzetta, 2018 N.J. Super. Unpub. LEXIS 178, 94 UCC Rep. 2d 958 (N.J. Super. Ct. 2018),...