Loan servicer—Appellate win

Obtained for a loan servicer, the first mortgage holder in a foreclosure case, a reversal of a trial court decision granting the assignee of a second mortgage holder intervention in the case and tolling of loan interest. In reversing the decision, the New York appellate division found that the assignee failed to prove its standing to intervene because the promissory note was not properly indorsed even though the second mortgage holder provided an affidavit stating it was in possession of the note and had purchased the loan. With this win, our client will obtain a judgment of foreclosure and sale and obtain full recovery of the mortgage in a matter that originally had been scheduled as a write off as unrecoverable before being referred to us.