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Green Tree Servicing LLC v. Valencia Management LLC Series 4

United States District Court, D. Nevada

January 22, 2018

GREEN TREE SERVICING LLC, Plaintiffs,
v.
VALENCIA MANAGEMENT LLC SERIES 4, et al., Defendants.

          ORDER

         Presently before the court is plaintiff Green Tree Servicing LLC's (“GTS”) motion for summary judgment. (ECF No. 93). Defendants Valencia Management LLC Series 4 (“Valencia”) and Silverado Court Landscape Maintenance Association (“the HOA”) filed responses (ECF Nos. 95, 96), and plaintiff filed a reply (ECF No. 104).

         Also before the court is defendant HOA's motion for summary judgment. (ECF No. 103). Plaintiff filed a response (ECF No. 105), to which the HOA replied (ECF No. 115).

         I. Introduction

         This action involves the parties' interests in real property located at 10784 Teton Village Court, Henderson, Nevada, 89052 (“the property”). (ECF No. 8).

         a. Plaintiff's interest in the property

         On October 5, 2004, Susanna Mizrahi obtained a loan from Republic Mortgage LLC (“RM”) for $260, 800 to purchase the property. Id. The loan was evidenced by a note and secured by a deed of trust. Id. Also on October 5, 2004, Mizrahi obtained a second loan for $63, 600 from RM which was secured by a deed of trust encumbering the property. Id. On October 27, 2004, Mizrahi obtained title to the property via a grant, bargain, and sale deed, recorded on that date. Id.

         The deed of trust, recorded on October 27, 2004, listed RM as the lender and Mortgage Electronic Registration Systems, Inc. (“MERS”) as the beneficiary solely as nominee for the lender and the lender's successors and assigns. (ECF No. 53-1).

         On December 1, 2004, Federal National Mortgage Association (“Fannie Mae”) obtained a property interest in the deed of trust.[1] (ECF No. 93-2).

         On May 22, 2012, MERS recorded a corporation assignment of deed of trust to BAC Home Loans Servicing, LP FKA Countrywide Home Loans Servicing, LP (“BAC”). Id.

         On May 1, 2013, plaintiff began servicing the loan on behalf of Fannie Mae. Id. On July 30, 2013, Bank of America, N.A. (successor by merger to BAC) recorded an assignment of deed of trust to plaintiff. Id. Plaintiff is the current beneficiary on the deed of trust and servicer of the loan. Id.

         b. Defendants' interest in the property

         On April 23, 2010, Red Rock Financial Services (“RRFS”), on behalf of the HOA, recorded a lien for delinquent assessments, asserting an outstanding amount owed of $666. Id. On June 28, 2010, RRFS recorded a notice of default and election to sell. Id.

         On August 13, 2013, RRFS recorded a notice of foreclosure sale, setting a sale date of February 2, 2013 and listing an amount owed of $3, 222.01. Id. On September 10, 2013, the HOA allegedly foreclosed against the property. Id. Valencia was the purchaser at the foreclosure sale, and paid $16, 200 for the property. Id.

         c. Plaintiff's complaint

         Plaintiff challenges defendants' conduct surrounding the September 10, 2013, HOA foreclosure sale and seeks to preserve its pre-sale interest in the property. Id. Plaintiff alleges the following relevant causes of action against the HOA: (1) quiet ...


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