Document Type

Case Summary

Publication Date

8-7-2014

Case Synopsis

The Court determined one issue: (1) the legal effect of a loan assignment from a homeowner’s original lender to a subsequent purchaser when that assignment violates the terms of the original lender and subsequent purchaser’s Pooling and Servicing Agreement (PSA). More specifically, the court decided whether a loan assignment that is executed after the closing date renders the assignment void and ineffective to transfer ownership of the homeowner’s loan.

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