U.S. Bank National Ass'n v. Ibanez
U.S. Bank Nat'l Ass'n v. Ibanez, 458 Mass. 637 (2011)
- Court
- Supreme Judicial Court of Massachusetts
- Decided
- 2011-01-07
- Docket
- SJC-10694
- Cited by later opinions
- 224
What happened
Two banks, as trustees of securitized loan pools, foreclosed on the Ibanez and LaRace homes and bought them back, then asked a court to confirm clear title. Their written assignments came after the sales.
What the court decided
The Massachusetts high court held the foreclosures invalid: a foreclosing party must hold the mortgage — by a valid written assignment — at the time of the notice of sale and the sale.
In the court's words
“only if they were the assignees of the mortgages at the time of the notice of sale and the subsequent foreclosure sale”
Why it may matter to you
The most famous homeowner win of the foreclosure crisis. It shows courts insisting that paperwork be right before a home is taken.
Why it might not apply
Massachusetts law. Texas lets a servicer foreclose for the mortgagee and does not require the note (Martins), so Texas courts are unlikely to follow it on that point.
Most useful when
- The company that foreclosed got its assignment only after the sale
How to cite it
The full citation for the first time you mention it, a short form for later, and a sample sentence you can adapt.
U.S. Bank Nat'l Ass'n v. Ibanez, 458 Mass. 637 (2011)Short formIbanez, 458 Mass. 637Draft — check it with free legal aid before you file or say it in court.
In U.S. Bank Nat'l Ass'n v. Ibanez, 458 Mass. 637 (2011), the court held that a foreclosing party must hold the mortgage by valid assignment at the time of the notice of sale and the sale, or the foreclosure is invalid. Here, [say in one sentence what happened in your case]
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Related cases
- Homeowner lostBinding in federal court
Martins v. BAC Home Loans Servicing, L.P.
722 F.3d 249 · Decided 2013
Mr. Martins refinanced his Texas home, later fell behind, and the servicer foreclosed. He argued the servicer could not foreclose without holding the original note, that he never got notice of the sale, and that the servicer had orally agreed to modify his loan.
Read the case - Homeowner wonBinding
Ogden v. Gibraltar Savings Ass'n
640 S.W.2d 232 · Decided 1982
Mr. Ogden owned a house in Corpus Christi. After he fell behind, the savings association posted a trustee's sale and sold the house. He sued for wrongful foreclosure and lost in the lower courts.
Read the case - Homeowner wonOther state
Yvanova v. New Century Mortgage Corp.
62 Cal. 4th 919 · Decided 2016
After her home was sold, Tsvetana Yvanova sued for wrongful foreclosure, alleging the assignment to the foreclosing trust was void. Lower courts said she had no standing to challenge it.
Read the case