United States District Court, D. Nevada
HUTCHISON & STEFFEN, LLC JOHN T. STEFFEN BRADLEY G. SIMS
ATTORNEYS FOR PLAINTIFF HOLLYVALE RENTAL HOLDINGS, LLC
ALDRIDGE PITE, LLP LAUREL I. HANDLEY ANTHONY R. SASSI
ATTORNEYS FOR DEFENDANT FEDERAL NATIONAL MORTGAGE ASSOCIATION
STIPULATION TO EXTEND DEADLINES IN SCHEDULING
Federal National Mortgage Association (“Fannie
Mae”) and Plaintiff/Counter-Defendant Hollyvale Rental
Holding, LLC (“Hollyvale”) (and collectively the
“Parties”), by and through their respective
attorneys of record, hereby stipulate to extend all of the
deadlines in the Scheduling Order (ECF No. 15) as follows:
& REASONS FOR REQUESTED EXTENSIONS
the Parties' first request to extend the deadlines in the
Scheduling Order. As the Court may be aware, this is one of
many actions involving a title dispute to real property
following a foreclosure sale under NRS 116. Hollyvale claims
it has free and clear title following the sale of a
super-priority lien, while Fannie Mae's primary defense
or counterclaim is that its deed of trust was not
extinguished because of the Federal Foreclosure Bar under 12
U.S.C. § 4617(j)(3). Quality Loan is the trustee under
Fannie Mae's deed of trust and has taken a non-monetary
to Local Rule 26-1, Hollyvale, Fannie Mae and Quality Loan
submitted a Stipulated Discovery Plan and Scheduling Order on
May 5, 2017 (ECF No. 14) and the Court issued a scheduling
order on May 8, 2017 (ECF No. 15). The Parties have exchanged
initial disclosures, have begun written discovery, and have
engaged in extensive settlement discussions. These series of
events have lead the Parties to believe that additional
parties should be added and/or substituted into this case and
that all of the deadlines in the Scheduling Order should be
the filing of this lawsuit in January 2017, Hollyvale has
transferred its interest in the real property at issue to an
affiliate or related entity known as Champery Rental REO, LLC
(“Champery”). The Parties are in the process of
finalizing a separate stipulation to effectuate the
substitution of Champery in the place and stead of Hollyvale.
Since the Parties' ultimate goal is to clear up title to
the property at issue, whether through adjudication or
settlement, Champery should be formally included as a party
to this lawsuit.
Hollyvale/Champery wishes to add the foreclosing HOA and its
trustee as defendants to this lawsuit. Fannie Mae has no
objection to adding either entity. In fact, adding the
foreclosing HOA and its trustee will further assist in
settlement efforts as it is believed that the foreclosing HOA
or its trustee is still holding excess proceeds of around
$70, 000.00 from the sale which will ultimately either need
to be distributed pursuant to NRS 116.31164 or may need to be
returned to Hollyvale/Champery if the sale is determined to
be void. Such funds could be used in furtherance of
settlement efforts between Hollyvale/Champery and Fannie Mae.
Including both entities should also lead to a final and
efficient adjudication as to title and proceeds distribution.
adding to the need for an extension of all deadlines,
Hollyvale/Champery and Fannie Mae have engaged in extensive
and complex settlement discussions since early to mid-July.
Such discussions not only involve the property at issue in
this case, but several other properties currently owned by
Hollyvale/Champery (or their affiliates) and where Fannie Mae
or Freddie Mac is claiming an interest. In other words,
Hollyvale/Champery and Fannie Mae/Freddie Mac are attempting
to arrive at a global settlement involving all of their
properties. Both have spent considerable time over the past
two months researching and gathering data on the properties
to be included in a proposed global settlement, and more time
is still needed. Of course the overarching purpose of such a
global settlement is to avoid the time and expense associated
with litigation. Both parties are currently optimistic that a
global settlement is achievable.
the discovery deadline is being affected by this Stipulation,
the Parties submit the following pursuant to LR 26-4.
Discovery that has been completed.
Parties have exchanged their initial disclosures pursuant to
FRCP 26. On August 15, 2017, and in the midst of settlement
discussions, Hollyvale served requests for admission,
requests for production, and interrogatories on Fannie Mae.
Discovery that ...