Washington State: A similar ruling also was handed down from Judge Marsha Pechman, Chief U.S. District Judge of Washington, where she dismissed a wrongful foreclosure complaint against MERS System members and other defendants. In June 2006, Ryan Wear borrowed $375,200 from Sierra Pacific Mortgage Co. to buy a house in Marysville, Wash. Wear executed a written promissory note, where he agreed to “make all payments under this note in the form of cash, check or money order.” Wear sued Sierra Pacific, Deutsche Bank, GMAC Mortgage and MERS for fraud, violations of the Washington Consumer Protection Act, accounting, breach of fiduciary duty, violations of the Fair Debt Collection Practices Act, breach of the implied duty of good faith and fair dealing, and seeking to avoid the contract, to quiet title, and for declaratory judgment. The plaintiff alleges that the defendants created and filed false assignments for the note and deed of trust and ultimately initiated nonjudicial foreclosure actions without having acquired any legal interest in the property. Wear also claims that the defendants collected payments to which they were not entitled, and failed to inform him of the true ownership of the loan and deed of trust. However, the defendants argue that Wear failed to identify any unfair or deceptive act, the alleged unfair or deceptive acts had no impact on the public interest, and no injury was caused by the defendants’ alleged conduct. Pechman agreed with the defendants, saying the plaintiff failed to show any fraudulent acts committed by MERS or injury caused by the company’s role in plaintiff’s deed of trust. “The only injury identified by plaintiff is the pending foreclosure of his home,” the judge said in her ruling. “Plaintiff does not claim that any action by the defendants caused or induced the plaintiff to default on the loan…therefore, regardless of who the actual beneficiary was…plaintiff’s property would still face foreclosure.” nationalmortgagenews/dailybriefing/MERS-Wins-Dismissal-of-Two-Lawsuits-1039986-1.html?ET=nationalmortgage:e5001:461410a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=NMN_Daily_Briefing_112013&site=default_tech
Posted on: Fri, 22 Nov 2013 05:36:27 +0000
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