United States District Court, D. Nevada
RICHARD F. BOULWARE, II, UNITED STATES DISTRICT JUDGE.
the Court are Defendant Bank of America, N.A.
(“BANA”), Counterclaimants Federal Housing
Finance Agency (“FHFA”), and Federal National
Mortgage Association's (“Fannie Mae”) Motion
for Summary Judgment (“Joint Motion for Summary
Judgment”), and Defendant Bank of America, N.A's
Motion for Summary Judgment. ECF Nos. 90, 91. For the
following reasons, the Court grants the Joint Motion for
My Home Now, LLC (“My Home Now”) sued Defendant
Bank of America, N.A, (“BANA”) in the Eight
Judicial District Court of Nevada on October 6, 2014. ECF No.
1-1. In its complaint, My Home Now sought declaratory relief
that it acquired property at a homeowner association (HOA)
foreclosure sale free from any security interest asserted by
BANA. My Home Now also asserted an unjust enrichment claim
and requested preliminary and permanent injunctive relief.
BANA removed the case to federal court on November 24, 2014.
ECF No. 1. BANA filed its answer on November 25, 2014. ECF
No. 4. On July 13, 2015, the Court granted the FHFA and
Fannie Mae's Motion to Intervene. ECF No. 44. FHFA and
Fannie Mae answered and asserted declaratory and quiet title
claims against My Home Now and Westpark Community Association
(the “HOA”) on July 23, 2015. ECF No. 45.
Now, LLC filed a motion for summary judgment. ECF No. 32.
BANA also filed a motion for summary judgment. ECF No. 42. On
February 25, 2016, the Court denied both motions without
prejudice, and reopened discovery for 120 days limited to 1)
BANA's alleged tender to the HOA, 2) whether BANA was
Fannie Mae's servicer/agent for the note attached to the
property at the time of the HOA foreclosure sale, and 3)
whether and when Fannie Mae acquired its interest in the
property. ECF No. 72. On November 22, 2016, the Court
administratively stayed case pending the Ninth Circuit's
mandate in the case Bourne Valley Court Trust v. Wells
Fargo Bank and denied all pending motions without
prejudice. 832 F.3d 1154 (9th Cir. 2016), cert
denied 137 S.Ct. 2296 (2017). The Court lifted the stay
on April 8, 2019. ECF No. 89. Both motions for summary
judgment currently before the Court were filed on May 13,
2019. ECF Nos, 90, 91. Both motions were fully briefed. ECF
Nos. 92, 93, 94.
Court makes the following findings of undisputed and disputed
matter concerns a nonjudicial foreclosure on a property
located at 11315 Colinward Avenue, Las Vegas, Nevada 89135
(the “property”). The property sits in a
community governed by the HOA. The HOA requires the community
members to pay community dues.
Patrick K. Haro and Noraishah Samsuddin borrowed funds from
Ryland Mortgage Company to purchase the property in 2007. To
obtain the loan, Haro and Samsuddin executed a promissory
note and a corresponding deed of trust to secure repayment of
the note. The deed of trust, which lists Haro and Samsuddin
as the borrowers and Ryland Mortgage Company as the lender,
and Mortgage Electronic Registration Systems, Inc.,
(“MERS”) as the beneficiary solely as nominee,
was recorded on December 14, 2007. On December 6, 2011, MERS,
as nominee for the lender, recorded an assignment of the deed
of trust to BANA.
and Samsuddin failed to pay the required HOA dues. From March
30, 2010 through January 3, 2014 the HOA, through its agent,
recorded a notice of delinquent assessment lien concerning
past-due assessments, followed by a subsequently recorded
notice of default and election to sell and then a notice of
foreclosure sale. On June 27, 2014, the HOA, through its
agent, held a foreclosure sale on the property under NRS
Chapter 116. My Home Now purchased the property at the
foreclosure sale. A foreclosure deed in favor of My Home Now
was recorded on June 30, 2014.
Fannie Mae previously purchased the note and the deed of
trust in February 2008. While its interest was never recorded
under its name, Fannie Mae continued to maintain its
ownership of the note and the deed of trust at the time of
the foreclosure sale. BANA serviced the note on behalf of
Fannie Mae at the time of the foreclosure sale.
relationship between Fannie Mae and its servicers is governed
by Fannie Mae's Single-Family Servicing Guide (“the
Guide”). The Guide provides that servicers may act as
record beneficiaries for deeds of trust owned by Fannie Mae.
It also requires that servicers ...