United States District Court, D. Nevada
HSBC BANK, USA, NATIONAL ASSOCIATION, AS TRUSTEE FOR MORTGAGEIT SECURITIES CORP. MORTGAGE LOAN TRUST, SERIES 2007-1, MORTGAGE PASS-THROUGH CERTIFICATES, a national banking association; Plaintiff,
SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company; VIA VALENCIA/VIA VENTURA HOMEOWNERS ASSOCIATION, a Nevada non-profit corporation; ABSOLUTE COLLECTION SERVICES, LLC, a Nevada limited liability company; Defendants. SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company, Counter-Claimant,
HSBC BANK, USA, NATIONAL ASSOCIATION, AS TRUSTEE FOR MORTGAGEIT SECURITIES CORP. MORTGAGE LOAN TRUST, SERIES 2007-1, MORTGAGE PASS-THROUGH CERTIFICATES, national banking association, CITIMORTGAGE, INC.; MAGELLAN A. AQUINO, an individual, Counter-Defendant/Cross-Defendants.
JEFFREY WILLIS, ESQ., HOLLY E. CHEONG, ESQ., SNELL &
WILMER, L.L.P. ATTORNEYS FOR PLAINTIFF HSBC BANK, USA,
NATIONAL ASSOCIATION, AS TRUSTEE FOR MORTGAGEIT SECURITIES
CORP. MORTGAGE LOAN TRUST, SERIES 2007-1, MORTGAGE
S. EBRON, ESQ., JACQUELINE A. GILBERT, ESQ., KAREN L. HANKS,
ESQ., KIM GILBERT EBRON ATTORNEYS FOR DEFENDANT SFR
INVESTMENTS POOL 1, LLC
D. COX, ESQ., ABSOLUTE COLLECTION SERVICES, LLC, ATTORNEYS
FOR DEFENDANT ABSOLUTE COLLECTION, LLC
L. SURUR, ESQ., HALL, JAFFE & CLAYTON, L.L.P., ATTORNEYS
FOR DEFENDANT VIA VALENCIA/VIA VENTURA HOMEOWNERS ASSOCIATION
STIPULATION AND ORDER TO STAY LITIGATION PENDING
CERTIFIED QUESTION BEFORE NEVADA SUPREME COURT, CASE No.
hereby stipulated and agreed by and between
Plaintiff/Counter-Defendant HSBC Bank, USA, National
Association, as Trustee for Mortgageit Securities Corp.
Mortgage Loan Trust, Series 2007-1, Mortgage Pass-Through
Certificates (“HSBC Bank”),
Defendant/Counterclaimant/Cross-Claimant SFR Investment Pool
1, LLC (“SFR”), Defendant Via Valencia/Via
Ventura Homeowners Association (the “HOA, ”), and
Defendant Absolute Collection Services (collectively, the
“Parties”), by and through their respective
lawsuit is one of hundreds where the parties dispute the
effect of a non-judicial foreclosure sale held by an HOA
pursuant to NRS 116.3116 et seq. (the “Statute”)
for an owner's failure to pay HOA assessments.
August 12, 2016, the Ninth Circuit issued a decision in
Bourne Valley Court Trust v. Wells Fargo Bank, N.A., 832 F.3d
1154 (9th Cir. 2016), holding that NRS 116.3116 et seq. is
facially unconstitutional under the due process clause of the
Fourteenth Amendment to the United States Constitution.
March 1, 2017, the Nevada Supreme Court issued a decision in
Saticoy Bay LLC Series 350 Durango 104 v. Wells Fargo Home
Mortgage, 388 P.3d 970 (Nev. 2017), holding that NRS 116.3116
et seq. is not facially unconstitutional.
May 3, 2017, this Court filed a certified question with the
Nevada Supreme Court in SFR Investments Pool 1, LLC v. Bank
of New York Mellon, No. 72931, requesting that the Nevada
Supreme Court determine whether incorporation of NRS 107.090
into NRS 116.31168 requires homeowners' associations to
provide notices of default to lenders, even when lenders do
not affirmatively request notice (the “Certified
Staying this case pending a remittitur in the Certified
Question will enable the parties to present arguments and
evidence to this Court with complete legal authority, thereby
promoting the most efficient use of the Court's and the
parties' limited resources.
Because the Certified Question is fully briefed and submitted
for decision without oral argument before the Nevada Supreme
Court, the stay is not indefinite.
Accordingly, the parties request that all proceedings in this
lawsuit are stayed, and all upcoming deadlines, hearings, and
conferences be vacated.
parties agree that SFR will maintain the property at issue in
its current condition and will abide by all obligations and
responsibilities arising from SFR's alleged ownership
interest in the property, including but not limited to the
payment of all applicable fees, assessments, taxes, and other
parties agree that upon written request and reasonable
notice, SFR shall allow HSBC Bank access to the property to
inspect and ensure ...