United States District Court, D. Nevada
U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-20, ASSET-BACKED CERTIFICATES, SERIES 2006-20, Plaintiff,
SFR INVESTMENTS POOL 1, LLC; and TRAIL RIDGE COMMUNITY ASSOCIATION, Defendants. SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company, Counter/Cross Claimant,
U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-20, ASSET-BACKED CERTIFICATES, SERIES 2006-20; MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR HOME123 CORPORATION; DANIEL PALACIOS, an individual, Counter/Cross-Defendants.
WRIGHT, FINLAY & ZAK, LLP Lindsay D. Robbins, Esq.
Attorneys for Plaintiff.
ORME & ANTHONY Christopher B. Anthony, Esq. Attorneys for
Trail Ridge Community Association
GILBERT EBRON Karen L. Hanks, Esq. Attorneys for SFR
Investment Pool 1, LLC.
STIPULATION AND ORDER TO STAY
U.S. Bank National Association, as Trustee for GSAA Home
Equity Trust 2006-20, Asset-Backed Certificates, Series
2006-20 (“U.S. Bank”), Defendant/Counterclaimant,
SFR Investments Pool 1, LLC (“SFR”), and
Defendant, Trail Ridge Community Association (“Trail
Ridge”), by and through their respective counsels of
record, hereby stipulate as follows in accordance with LR6-1
and LR 26-4.
the above-captioned matter concerns declaratory relief claims
regarding real property located at 8400 Lower Trailhead
Avenue, Las Vegas, Nevada 89113 (the “Property”).
Defendant, SFR Investments Pool 1, LLC (“SFR”),
claims it acquired title to the Property following an
Association foreclosure sale under NRS Chapter 116, and
further claims said foreclosure eliminated that Deed of Trust
recorded with the Clark County Recorder's Office on
September 27, 2006, as Book and Instrument Number
Defendant, Trail Ridge Community Association, initiated
non-judicial foreclosure proceedings before the Nevada
Supreme Court decision in SFR Investments Pool 1 v. U.S.
Bank, N.A., 334 P.3d 408 (Nev. 2014).
on August 12, 2016, the Ninth Circuit issued its decision in
Bourne Valley Court Tr. v. Wells Fargo Bank, N.A.,
832 F.3d 1154, 1159-60 (9th Cir. 2016) holding that NRS
Chapter 116 is facially unconstitutional.
the parties dispute whether the outcome of the Certified
Question will have any affect on the application and binding
nature of the Bourne Valley decision upon this
on April 21, 2017, the U.S. District Court for the District
of Nevada issued an Order in The Bank of New York Mellon
fka The Bank of New York, as Trustee for the
Certificateholders CWABS, Inc. Asset-Backed Certificates,
Series 2006-6 v. Star Hill Homeowners Association et
al., Case No. 2:16-cv-025610-RFB-PAL, certifying to the
Nevada Supreme Court the question: “Whether NRS §
116.31168(1)'s incorporation of NRS § 107.090
required a homeowner's association to provide notices of
default and/or sale to persons or entities holding a
subordinate interest even when such persons or entities did
not request notice, prior to the amendments that took effect
on Oct. 1, 2015?” ECF No. 41, 7:1-4. The Nevada Supreme
Court issued an Order Accepting Certified Question on June
13, 2017. It has not yet been scheduled for oral argument.
WHEREFORE, based on the foregoing, IT IS HEREBY STIPULATED
AND AGREED that staying this case pending decision from the
Nevada Supreme on the Certified Question will enable the
parties to present arguments and evidence to this Court at an
appropriate time with complete legal authority, thereby
promoting the most efficient use of the Court's and the
parties' limited resources. Staying the case pending the
decision from the Nevada Supreme Court on the Certified
Question will also enable the parties to continue ongoing
FURTHER STIPLATED AND AGREED that either party may file a
written motion to lift stay at any time either party
determines it appropriate, and either party may file an
opposition to the motion.
FURTHER STIPULATED AND AGREED that all proceedings in this
lawsuit are stayed, and all upcoming deadlines, hearings and
conferences, including the deadline to file dispositive