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Eagle Investors v. Bank of America, N.A.

United States District Court, D. Nevada

May 7, 2014

Eagle Investors, Plaintiff,
v.
Bank of America, N.A.; National Default Servicing Corporation; Mortgage Electronic Registration Systems, Inc.; and Francis Caso, Defendants.

ORDER

GLORIA M. NAVARRO, Chief District Judge.

This is a quiet title action filed by Plaintiff Eagle Investors against Defendants Bank of America, N.A. ("BANA"); National Default Servicing Corporation ("NDSC"); Mortgage Electronic Registration Systems, Inc. ("MERS"); and Francis Caso (collectively, "Defendants"). Pending before the Court is Plaintiff's Motion for Preliminary Injunction (ECF No. 30), to which Defendant BANA has filed a Response (ECF No. 37), and Plaintiff has filed a Reply (ECF No. 40).

I. BACKGROUND

Plaintiff is a corporation organized under the laws of the State of Nevada seeking declaratory and injunctive relief as to the property located at 1404 Bays Mountain Avenue, Las Vegas, Nevada 89166 ("the property"). (Compl., Ex. A to Notice of Removal, ECF No. 1-2.)

Deed of Trust. In 2008, Defendant Caso was named as title owner of the property under a Deed of Trust securing a $299, 425.00 mortgage loan, naming IMortgage.com as mortgage lender and beneficiary, and Defendant MERS as beneficiary solely as nominee for the lender. (Ex. B to RJN, ECF No. 6-2.)

HOA Lien. On June 10, 2011, Northern Terrace Homeowners Association ("the HOA") recorded a Notice of Claim of Delinquent Assessment Lien pursuant to the Declaration of Covenants, Conditions and Restrictions ("CC&Rs"), stating that Defendant Caso was delinquent in his payment obligations under the CC&Rs. (Ex. C to RJN, ECF No. 6-3.)

Assignment. Later in June 2011, the beneficial interest in the Deed of Trust was assigned to "BAC Home Loans Servicing, LP, fka Countrywide Home Loans Servicing, LP" by MERS on behalf of IMortgage.com. (Assignment, Ex. D to RJN, ECF No. 6-4.)

Notice of Default under HOA Lien. On March 5, 2012, the HOA recorded a Notice of Default and Election to Sell under the June 2011 HOA Lien, stating $2, 799.14 as the amount due as of March 2, 2012. (Ex. E to RJN, ECF No. 6-5.)

Substitution of Trustee. In December 2012, Defendant NDSC was substituted as Trustee by MERS on behalf of BANA, as named beneficiary. (Substitution of Trustee, Ex. F to RJN, ECF No. 6-6.)

Notice of Default under Deed of Trust. In September 2013, BANA recorded a Notice of Default and Election to Sell under the Deed of Trust, stating that Defendant Caso had defaulted on his mortgage payments. (Ex. G to RJN, ECF No. 6-7.)

Notice of Foreclosure Sale under HOA Lien. On November 21, 2013, the HOA recorded a Notice of Foreclosure Sale under the June 2011 Delinquent Assessment Lien, stating a sale date of December 19, 2013. (Ex. H to RJN, ECF No. 6-8.)

Certificate of Foreclosure Mediation Program. On December 24, 2013, NDSC recorded a Certificate from the State of Nevada Foreclosure Mediation Program certifying that the property was a non-applicable property, and that the beneficiary may proceed with the foreclosure process. (Ex. I to RJN, ECF No. 6-9.)

Notice of Trustee's Sale under Deed of Trust. On December 24, 2013, NDSC recorded a Notice of Trustee's Sale on behalf of BANA, stating a sale date of January 17, 2014. (Ex. J to RJN, ECF No. 6-10.)

HOA Trustee's Deed Upon Sale. On December 30, 2013, the HOA recorded a Trustee's Deed Upon Sale indicating that "all its right, title and interest in the property" was sold to Plaintiff on December ...


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