United States District Court, D. Nevada
before the court is defendants/counter-claimants Wells Fargo
Bank, N.A. (“Wells Fargo”) and Federal Home Loan
Mortgage Corporation's (“Freddie Mac”) motion
for reconsideration. (ECF No. 57).
Plaintiff/counter-defendant Collegium Fund Series 32
(“Collegium”) filed a response (ECF No. 65), to
which Wells Fargo and Freddie Mac replied (ECF No. 66).
before the court is Collegium's stipulation for an
extension of time to respond to Wells Fargo and Freddie
Mac's motion for reconsideration. (ECF No. 58).
case involves a dispute over real property located at 1796
Nuevo Road, Henderson, Nevada 89014 (the
“property”). On October 18, 2006, Mark Daniel
Snyder (“Snyder”) obtained a loan from Wells
Fargo in the amount of $134, 500.00 to purchase the property,
which was secured by a deed of trust recorded on November 19,
2007. (ECF No. 1-2).
December 12, 2006, Freddie Mac purchased the loan and Wells
Fargo began servicing the loan on Freddie Mac's behalf
pursuant to Freddie Mac's single-family seller/servicer
guide (“the guide”). (ECF No. 26-2). Neither
Freddie Mac nor Wells Fargo recorded the assignment.
September 6, 2008, pursuant to the Housing Economic Recovery
Act of 2008, 12 U.S.C. § 4617 et seq.
(“HERA”), Federal Housing Finance Agency's
(“FHFA”) director placed Freddie Mac into
5, 2012, Absolute Collection Services, LLC
(“ACS”), acting on behalf of Nuevo Vista
Homeowners Association, Inc. (the “HOA”),
recorded a notice of delinquent assessment lien. (ECF No.
1-2). On May 16, 2013, ACS recorded a notice of default and
election to sell to satisfy the delinquent assessment lien.
(ECF No. 1-2). On November 4, 2013, ACS recorded a notice of
trustee's sale. (ECF No. 1-2).
January 16, 2014, Collegium purchased the property for $63,
500.00 at the HOA foreclosure sale. (ECF No. 1-2). A
trustee's deed upon sale in Collegium's favor was
recorded on January 16, 2014. (ECF No. 1-2).
did not consent to any purported extinguishment of Freddie
Mac's ownership interest in the property. (See,
e.g., ECF No. 26-12).
October 9, 2015, Collegium filed (in state court, case no.
A-15-725950-C) the underlying complaint against Snyder and
Wells Fargo, alleging five causes of action: (1) quiet title;
(2) declaratory relief; (3) unjust enrichment; (4) injunctive
relief; and (5) award of attorney's fees and costs. (ECF
November 30, 2015, Wells Fargo filed (in state court) an
answer and counterclaim against Collegium, ACS, and the HOA
for declaratory relief, wrongful foreclosure, violation of
NRS 116.1113, intentional interference with contract, and
quiet title. (ECF No. 1-2).
February 26, 2016, the HOA filed (in state court) a
crossclaim against ACS for implied indemnity, contribution,
apportionment, express indemnity, breach of contract, and
declaratory relief. (ECF No. 1-2).
23, 2016, the state court granted Freddie Mac's motion to
intervene. (ECF No. 1-2). On July 12, 2016, Freddie Mac
removed the action to federal court pursuant to 28 U.S.C.
§§ 1442 and 1446 and 12 U.S.C. § 1452(f). (ECF
No. 1). On July 13, 2016, Freddie Mac filed an answer and
counterclaim for declaratory relief against Collegium, ACS,
and the HOA and quiet title against Collegium. (ECF No. 3).
September 29, 2016, the HOA filed an answer to Freddie
Mac's counterclaim and a second crossclaim against ACS,
which is virtually identical to the crossclaim ACS previously