In an article written by Barry Fagan in JD SUPRA business advisor- he states that
" It has long been the successful strategy of banks to hoodwink judges into treating them as Holders in Due Course — even when HDC status is expressly denied by the foreclosing party. For them it is simple: they have the note in their possession and that is all anyone needs to know. That is dead wrong."
Many homeowners have lost their cases when the bank boldly lies to the courts about the chain of title and their right to foreclose. However in St. Clair v US BANK the court opines
"Ultimately the problem with US Bank’s attempt to establish standing to foreclose is that it relies on a “paper trail” that beats around the bush but never axes the tree necessary to establish the legal requirement of standing. We cannot, as advocated by U.S. Bank, presume standing simply because it serviced the loan; Long standing case law prevents us from doing so.”
This is what so many foreclosure fighters have been fighting for- hopefully the tide is turning.
See the July 17 2015 opinion here.
http://www.2dca.org/opinions/Opinion_Pages/Opinion_Pages_2015/July/July%2017,%202015/2D14-2111.pdf
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