in the State in which they are foreclosing
be vacated? I'm not a lawyer...but I
would sure talk to one immediately
about a possible cause of action here. Most
National Banks claim they don't need to be
registered in the State in which they foreclose.
And that simply is not true.
THE SUPREME COURT CASE
CUOMO V. CLEARINGHOUSE, JUNE 2009
and
OCC INTERPRETIVE LETTER
#1016 FEBRUARY 2005
HAVE FIRMLY ESTABLISHED
NATIONAL BANKS ARE SUBJECT TO EACH STATE'S LAWS
WHEN FORECLOSING MORTGAGE LOANS
AND WHEN LITIGATING ANY COURT ACTION
I had a reader write me a comment on the following OCC Interpretive Letter #1016 February 2005, and now I have a question after reading the Supreme Court Case it decided, Cuomo v Clearinghouse by US Supreme Court, June, 2009.
If all Banks (including and especially National Banks) are subject to the laws of the State where they bring a civil foreclosure action, why do our State Courts continue to allow them to foreclose in States where they are not registered to do business with the State’s Secretary of State, nor are they licensed to conduct mortgage servicing business with the State’s Bank Commissioner, AND when they DID NOT ORIGINATE THE DEFENDANT’S MORTGAGE LOAN?
http://wfhmcaught.blogspot.com/2010/07/daniel-p-stipano-states-national-banks.html
http://www.supremecourt.gov/opinions/08pdf/08-453.pdf
Cuomo v. Clearing House - Preemption Case
This reader commented:
rod said…
this letter is actually known as OCC Interpretive Letter #1016 February 2005.
It took me 6 years to discover it. Same issue decided in Cuomo v Clearinghouse by US Supreme Court, June, 2009.
We all need to stress these points of law, until the courts hear us and listen and obey their own laws.
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