Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

JPMorgan Chase Bank, N.A. v. SFR Investments Pool 1, LLC

United States District Court, D. Nevada

August 24, 2017

JPMORGAN CHASE BANK, N.A. Plaintiff,
v.
SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company; and MOUNTAIN'S EDGE MASTER ASSOCIATION, a Nevada non-profit corporation. Defendants. SFR INVESTMENTS POOL 1, LLC., a Nevada limited liability company, Counter-Claimant,
v.
JPMORGAN CHASE BANK, N.A. Counter-Defendant. SFR INVESTMENTS POOL 1, LLC., a Nevada limited liability company, Cross-Claimant,
v.
SIU MING PANG, an individual, Cross-Defendant.

          Ballard Spahr LLP, Joel E. Tasca, Esq. Russell J. Burke, Esq. Attorneys for JPMorgan Chase Bank, N.A.

          Wolf, Rifkin, Shapiro, Schulman & Rabkin, LLP, Gregory P. Kerr, Esq. Attorneys for Mountain's Edge Master Association

          Kim Gilbert Ebron, Diana Cline Ebron, Esq. Attorneys for SFR Investments Pool 1, LLC

          STIPULATION AND ORDER FOR LEAVE TO PERMIT JPMORGAN CHASE BANK, N.A. TO FILE FIRST AMENDED COMPLAINT

         JPMorgan Chase Bank, N.A. ("Chase"), Mountain's Edge Master Association ("Master's Edge"), and SFR Investments Pool 1 ("SFR") (all parties together as the "Parties"), by and through their respective counsel of record, in compliance with LR 7-1 and LR 15-1, hereby file this Stipulation and Order For Leave to Permit JPMorgan Chase Bank, N.A. to File First Amended Complaint. The Parties stipulate to the following:

         1. Pursuant to the Scheduling Order (ECF No. 26), the deadline to amend pleadings is September 5, 2017.

         2. The Parties stipulate to permit Chase to file the Amended Complaint attached as Exhibit A.

         3. Pursuant to the Amended Complaint, Chase seeks to add current nonparty Diamond Creek Homeowners' Association.

         4. Upon information and belief, Diamond Creek Homeowners' Association is the association that conducted the foreclosure sale giving rise to this lawsuit.

         5. Chase's amended pleading is not made in bad faith, not made with a dilatory motive, and timely made pursuant to the Scheduling Order.

         6. Chase's amended pleading satisfies the liberal amendment standard codified as Fed.R.Civ.P. 15(a).

         7. Good case exists to permit Chase to file its Amended Complaint. Dated: August 22, 2017.

         ORDER

         IT IS SO ORDERED:

         EXHIBIT A

         AMENDED COMPLAINT

         Plaintiff JPMorgan Chase Bank, N.A. ("Chase"), by and through its counsel of record, Ballard Spahr LLP, hereby complains against SFR Investments Pool 1, LLC, Mountain's Edge Master Association, and Diamond Creek Homeowners' Association as follows:

         I. THE PARTIES, JURISDICTION, AND VENUE

         1. Chase is a national banking association headquartered in Ohio.

         2. Upon information and belief, Defendant SFR Investments Pool I, LLC ("SFR") is a Nevada limited liability company, which is wholly owned by SFR Funding LLC, a Delaware limited liability company, which is wholly owned by a Canadian entity, Xieman LP. Xieman LP consists of partners Xieman Investments, Ltd., a Canadian corporation, and John Gibson, an individual who is a citizen of South Africa. See Nationstar Mortgage LLC v. Flamingo Trails No. 7 Landscape Maintenance Association, Inc., et al., Case no. 2:i5-cv-01268-RFB-NJK at ECF No. 50-1.

         3. Upon information and belief, Defendant Mountain's Edge Master Association ("Mountain's Edge") is a Nevada non-profit corporation.

         4. Upon information and belief, Defendant Diamond Creek Homeowners' Association ("Diamond Creek Homeowners' Association") is a Nevada non-profit corporation.

         5. This Court has subject matter jurisdiction over this matter pursuant to 28 U.S.C. § 1331 because this matter involves federal questions of constitutionality.

         6. This Court also has subject matter jurisdiction over this matter pursuant to 28 U.S.C. § 1332(a)(3) because there is complete diversity between Chase and all Defendants and the amount in controversy exceeds $75, 000.

         7. Venue is proper in this judicial district pursuant to 28 U.S.C. §§ 139l(b)(1)-(2) because SFR does business in this district; a substantial part of the events or omissions giving rise to these claims occurred in this district; and the property that is the subject of this action is situated in this district.

         8. This Court has personal jurisdiction over SFR because this lawsuit arises out of and is connected with SFR's purported purchase of an interest in real property located in Clark County, Nevada and, upon information and belief, SFR is a Nevada limited liability company.

         9. This Court has personal jurisdiction over Diamond Creek Homeowners' Association because this lawsuit arises out of and is connected with Diamond Creek Homeowners' Association's purported sale of an interest in real property situated in Clark County, Nevada.

         10. This Court has personal jurisdiction over Mountain's Edge because this lawsuit arises out of and is connected with Mountain's Edge's involvement with real property situated in Clark County, Nevada.

         11. Diamond Creek Homeowners' Association and Mountain's Edge are joined as necessary parties pursuant to Fed.R.Civ.P. 19(a) even though there are no causes of action alleged against either of them.

         II. FACTUAL BACKGROUND

         A. Congress Authorizes the FHA Insurance Program

         12. Congress created the Federal Housing Authority ("FHA") in 1934 and the FHA became part of the Department of Housing and Urban Development ("HUD") in 1965.

         13. Congress authorized HUD to insure privately-issued mortgages on single family homes, commonly referred to as FHA insurance, to further its congressional mandate to make decent housing available to all citizens. See 12 U.S.C. § 1709.

         14. The congressional purpose of the FHA insurance program is to encourage private lenders to extend loans to borrowers that the lenders would otherwise find too risky-i.e., to insure loans that private lenders extend to low to moderate income families. See 42 U.S.C. § 1441; 12 U.S.C. §§ 1701 & 1709.

         B. The Property and the Deed of Trust

         15. This action relates to the parties' rights and interests in certain real property commonly described as 9491 Bighorn Point Court, Las Vegas, Nevada 89178; APN # 176-21-715-040 (the ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.