On July 16, 2015, the California Court of Appeal (Fourth District) affirmed the trial court’s dismissal of a complaint against Doll Amir & Eley LLP’s client GreenPoint Mortgage Funding, Inc.
Pending since mid-2012, the case reached back to a moment of uncertainty in California mortgage litigation. Like many distressed borrowers seeking to avoid foreclosure at that time, Plaintiff sought to challenge the parties’ standing to foreclose based on improper securitization. In accordance with established authority, the trial court sustained GreenPoint’s first demurrer and dismissed Plaintiff’s entire complaint against it. Plaintiff sought reconsideration.
Just days before the reconsideration hearing, another appellate division published Glaski v. Bank of America, which concluded that borrowers do have standing to challenge the timeliness of transfers into a securitization pool. Nevertheless, after oral argument, the trial court denied Plaintiff’s motion. Plaintiff appealed. In an 11-page decision, the Court of Appeal affirmed the trial court in full.
Doll Amir & Eley LLP partner Will Edmonson handled the proceedings before the trial court and the Court of Appeal.