I commented this was not new information in that there are home owners willfully not making any payments after they find out the bank they're making the payments to does not have a copy of the title. So the information that you can own your home free and clear without making a payment for 5 years is not new information. What banks did was sell partial lots of ONE home to several securities buyers. In effect, the banks DO NOT own the home. It's the individual purchasers of the fragmented title that own the place. The home owners should send a letter of thanks to Phil Gramm. This couldn't have happened without Phil Gramm and the republicans deregulating the financial sector to the point of utter stupidity.
Really? Who is that? Got a citation? And why is a foreclosure action being tried in federal court? Foreclosure is a state court remedy in the vast majority of cases. For the federal court to have jurisdiction, there has to be a either a "federal question" involved; a bankruptcy, or there has to be diversity of citizenship between the parties. It is very unlikely that a plaintiff would file a foreclosure action in Federal Court. Too much paperwork involved. Every motion requires a written memorandum. Much easier in state court.
Show me a case where a judge has dismissed a foreclosure action and the lender went away empty handed, where the originals weren't produced, and the judge refused to allow the plaintiff to re-establish the terms of the note under UCC 3-309.
You're right; it's state court in NY. It's also a state court issue (until it isn't on appeal). Mea culpa. Anyways - here it is: http://cityroom.blogs.nytimes.com/2...?scp=1&sq=manhattan foreclosures judge&st=cse This is in addition to several other courts, including the one mentioned in the OP.