Court of Appeals – Aurora Loan Services v. Taylor, et al.

Daily Record Staff//July 7, 2015//

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New York State Court of Appeals

Mortgage Foreclosure

Standing – Chain of Possession

Aurora Loan Services v. Taylor, et al.

No. 83

Judge Lippman

Background: The issue is whether the plaintiff had standing to commence a mortgage foreclosure action. The defendants executed and delivered an adjustable rate not to First National Bank of Arizona. To secure the payment, the defendants executed a mortgage granting Mortgage Electronic Recording Systems a lien on the property. The note was never transferred with the mortgage. The loan was then made part of a residential mortgage-backed securitization trust. The mortgage was eventually assigned to the plaintiff.

Ruling: The Court of Appeals held that the plaintiff did have standing and affirmed the grant of summary judgment in favor of the plaintiff. The court noted that an affidavit submitted by the plaintiff established that the plaintiff came to possession of the mortgage just prior to commencement of the action.

Jeffrey Herzberg for the appellants; Martin C. Bryce Jr. for the respondent

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