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Aurora v. Taylor NY Ct Appeals Holds Aurora had STANDING to foreclose as note was transferred to Aurora before foreclosure started

justia.com | June 12, 2015

By Neil Garfield

Aurora Loan Servs., LLC v. Taylor
Court: New York Court of Appeals Citation: 2015 NY Slip Op 04872 Opinion Date: June 11, 2015
Areas of Law: Banking, Real Estate & Property Law

Defendant executed an adjustable rate note to First National Bank of Arizona, wherein she agreed to repay a loan. To secure payment, Defendants executed a mortgage with the the bank. The loan was subsequently made part of a residential mortgage-back securitization trust, and Deutsche Bank Trust Company Americas became the owner of the note. Aurora Loan Servicing, LLC later assumed servicer obligations, and thereafter, the mortgage was assigned to Aurora. When Defendants defaulted under the note, Aurora commenced this foreclosure action. Defendants moved for summary judgment, asserting that Aurora did not have standing to bring this foreclosure action. Supreme Court denied the motion and then granted Aurora’s motion for summary judgment of foreclosure and sale. The Appellate Division affirmed the first order, concluding that Aurora had standing. The court reversed the judgment of foreclosure and sale for reasons not relevant to this appeal. The Court of Appeals affirmed the finding that Aurora had standing to commence this mortgage foreclosure action, holding that because the note was transferred to Aurora before the commencement of the foreclosure action, Aurora was vested with standing to foreclose.

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Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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