United States District Court, D. Nevada
FEDERAL HOUSING FINANCE AGENCY, in its capacity as Conservator of Federal National Mortgage Association; and FEDERAL NATIONAL MORTGAGE ASSOCIATION, Plaintiffs,
NEVADA NEW BUILDS, LLC, a Nevada Domestic Limited Liability Company, Defendant.
M. Navarro, Chief Judge United States District Court
before the Court is the Motion for Summary Judgment, (ECF No.
9), filed by Plaintiffs Federal National Mortgage Association
(“Fannie Mae”) and Federal Housing Finance Agency
(“FHFA”) (collectively “Plaintiffs”).
Defendant Nevada New Builds, LLC (“Defendant”)
filed a Response, (ECF No. 10), and Plaintiffs filed a Reply,
(ECF No. 11).
present action involves the interplay between Nevada Revised
Statute § 116.3116 and 12 U.S.C. § 4617 as it
relates to the parties' interests in three real
properties located at: (1) 3952 Edgemoor Way, Las Vegas,
Nevada (“Edgemoor Way”), (Mot. for Summ. J.
(“MSJ”) 5:24-26, ECF No. 9); (2) 1050 East Cactus
Avenue, No. 1127, Las Vegas, Nevada (“East Cactus
Avenue”), (id. 6:19-21); and (3) 435 Mesa
Boulevard, Unit 202, Mesquite, Nevada (“Mesa
Boulevard”), (id. 9:6-8) (collectively the
September 26, 2003, Darline K. Shrader
(“Shrader”) obtained a loan (the “Edgemoor
Loan”) in the amount of $148, 800 from Countrywide Home
Loans, Inc. (“Countrywide”) that was secured by a
Deed of Trust on the Edgemoor Way Property. (Deed of Trust,
Ex. C to MSJ, ECF No. 9-3). Fannie Mae purchase the Edgemoor
Loan on October 1, 2003, and has owned it ever since.
(See Curcio Decl., Ex. D to MSJ ¶¶ 12-14,
ECF No. 9-4).
August 2, 2013 a Corporate Assignment of Deed of Trust was
recorded, whereby Mortgage Electronic Registration Systems,
Inc. (“MERS”), as the nominee for Countrywide and
Countrywide's successors and assigns, assigned the Deed
of Trust to Fannie Mae. (Ex. E to MSJ, ECF No. 9-5).
November 30, 2013, Alessi & Koenig, LLC (A&K), as
agent for Forest Hills HOA (the “Forest Hills
HOA”) held a trustee's sale, selling the Edgemoor
Way Property to the Forest Hills HOA for $11, 418.74. (Ex. F
to MSJ, ECF No. 9-6). On February 11, 2015, the Forest Hills
HOA recorded a quitclaim deed that transferred the Edgemoor
Way Property to Defendant. (Ex. G to MSJ, ECF No. 9-7).
East Cactus Avenue
October 6, 200, Lawrence Shamuel (“Shamuel”)
obtained a loan (the “East Cactus Loan”) in the
amount of $156, 000 from Countrywide that was secured by a
Deed of Trust on the East Cactus Avenue Property. (Deed of
Trust, Ex. I to MSJ, ECF No. 9-9). Fannie Mae purchased the
East Cactus Loan on October 1, 2004, and has owned it ever
since. (See Curcio Decl., Ex. D to MSJ ¶¶
1, 2011 an Assignment of Deed of Trust was recorded, whereby
MERS, as the nominee for Countrywide and Countrywide's
successors and assigns, assigned the Deed of Trust to BAC
Home Loans Servicing, LP (“BAC”). (Ex. J to MSJ,
ECF No. 9-10). Then on October 14, 2013, an additional
Assignment of Deed of Trust was recorded where BAC assigned
the Deed of Trust to Green Tree Servicing, LLC (“Green
Tree”). (Ex. K to MSJ, ECF No. 9-11).
February 7, 2014, Nevada Association Services, Inc.
(“NAS”), as trustee for Antiqua Condominiums,
held a trustee's sale, selling the East Cactus Avenue
Property to Paul Turcutto (“Turcutto”) and Athena
Sack (“Sack”) for $16, 000. (Ex. L to MSJ, ECF
No. 9-12). On June 18, 2014, Turcutto sold the East Cactus
Avenue Property to Azzurra Capital, LLC
(“Azzurra”), and on September 18, 2014, Sack
transferred her interest to Azzurra as well. (Ex. M to MSJ at
1, ECF No. 9-13); (Ex. O to MSJ at 1, ECF No. 9-15). Azzurra
is an affiliate of Defendant. (Ex. P to MSJ at 1, ECF No.
November 30, 2007, Jay D. Hills and Rhoda V. Hills obtained a
loan (the “Mesa Boulevard Loan”) in the amount of
$99, 200 from Freedom Mortgage Corporation and MERS that was
secured by a Deed of Trust on the Property. (Ex. Q to MSJ at
1-2, ECF No. 9-17). Fannie Mae purchased the Mesa Boulevard
Loan on ...