justia.com | May 8, 2015
Marcuzzo v. Bank of the West
|Court: Nebraska Supreme Court
Citation: 290 Neb. 809
|Opinion Date: May 1, 2015
|Areas of Law: Banking, Real Estate & Property Law
Plaintiffs asserted six causes of action against Wells Fargo Bank, N.A. (Wells Fargo), the Federal National Mortgage Association (Fannie Mae), Erika Knapstein, Bank of the West, and Jeff T. Courtney arising out of the foreclosure and subsequently sale of Plaintiffs’ residence. As a premise for all causes of action, Plaintiffs asserted that the assignment of their mortgage was defective. The district court dismissed Bank of the West and Courtney for failure to prosecute and granted summary judgment in favor of Wells Fargo, Fannie Mae, and Knapstein. The Supreme Court affirmed, holding (1) whether the assignment of the mortgage was properly executed was not a material issue in the causes of action addressed in this appeal because Plaintiffs could not show an injury arising from the assignment, and therefore, Plaintiffs lacked standing to assert any cause of action that dependent upon the validity of the assignment; and (2) the district court correctly dismissed Courtney for failure to prosecute, but Bank of the West should have been dismissed from the action for lack of standing.
Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager
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