Mass. Borrowers Can Challenge Mortgage Transfers: 1st Circ.
By Sindhu Sundar
Law360, New York (February 15, 2013, 8:26 PM EST) -- The First Circuit found Friday that Massachusetts borrowers may challenge the transfer of mortgages even as it affirmed a lower court’s ruling that a loan servicing company was right in foreclosing the home of a borrower in default even though it had received the title to the mortgage from another party.
Aurora Loan Services of Nebraska followed lawful procedures in foreclosing on borrower Oratai Culhane’s Massachusetts home after she failed to make timely payments, even though Aurora had obtained the title from lender consortium Mortgage Electronic...