Oklahoma Supreme Court Rules Against Deutsche On Two Different Cases – On the Same Day

Oklahoma Supreme Court Rules Against Deutsche On Two Different Cases – On the Same Day

By Daniel Edstrom
DTC Systems, Inc.

From 4closurefraud.org – Attorney Phillip Taylor takes the foreclosure fight in Oklahoma to the Oklahoma Supreme Court and gets handed two favorable rulings on the same day.

Deutsche Bank National Trust Company vs. Byram quote:

CONCLUSION

¶11 It is a fundamental precept of the law to expect a foreclosing party to actually be in possession of its claimed interest in the note, and have the proper supporting documentation in hand when filing suit, showing the history of the note, so that the defendant is duly apprised of the rights of the plaintiff. This is accomplished by showing the party is a holder of the instrument or a nonholder in possession of the instrument who has the rights of a holder, or a person not in possession of the instrument who is entitled to enforce the instrument pursuant to 12A O.S. 2001, § 3-309 or 12A O.S. 2001, § 3-418. Likewise, for the homeowners, absent adjudication on the underlying indebtedness, the dismissal cannot cancel their obligation arising from an authenticated note, or insulate them from foreclosure proceedings based on proven delinquency. See, U.S. Bank National Association v. Kimball 27 A.3d 1087, 75 UCC Rep.Serv.2d 100, 2011 VT 81 (VT 2011); and Indymac Bank, F.S.B. v. Yano-Horoski, 78 A.D.3d 895, 912 N.Y.S.2d 239 (2010).

REVERSED AND REMANDED WITH INSTRUCTIONS

Deutsche Bank National Trust vs. Brumbaugh quote:

CONCLUSION

¶12 It is a fundamental precept of the law to expect a foreclosing party to actually be in possession of its claimed interest in the note, and have the proper supporting documentation in hand when filing suit, showing the history of the note, so the defendant is duly apprised of the rights of the plaintiff. This is accomplished by establishing that the party is a holder of the instrument or a nonholder in possession of the instrument who has the rights of a holder, or a person not in possession of the instrument who is entitled to enforce the instrument pursuant to 12A O.S. 2001, § 3-309 or 12A O.S. 2001, § 3-418. 12A O.S. 2001, § 3-301. Likewise, for the homeowners, absent adjudication on the underlying indebtedness, the dismissal cannot cancel their obligation arising from an authenticated note, or loan modification, or insulate them from foreclosure proceedings based on proven delinquency. See, U.S. Bank National Association v. Kimball 27 A.3d 1087, 75 UCC Rep.Serv.2d 100, 2011 VT 81 (VT 2011); and Indymac Bank, F.S.B. v. Yano-Horoski, 78 A.D.3d 895, 912 N.Y.S.2d 239 (2010).

REVERSED AND REMANDED WITH INSTRUCTIONS

Download the rulings:

Deutsche Bank National Trust Company vs. Byram: http://dtc-systems.net/wp-content/uploads/2012/01/DEUTSCHE-BANK-NATIONAL-TRUST-COMPANY-vs-Byrams.pdf

Deutsche Bank National Trust Company vs. Brumbaugh: http://dtc-systems.net/wp-content/uploads/2012/01/DEUTSCHE-BANK-NATIONAL-TRUST-vs-Brumbaugh.pdf

Author: dmedstrom

Reverse Engineering and Failure Analysis - Reverse Engineering Wall Street