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Las Vegas Development Group, LLC v. ColFin AI-NV 2, LLC

United States District Court, D. Nevada

December 11, 2019

LAS VEGAS DEVELOPMENT GROUP, LLC, a Nevada limited liability company, Plaintiff,
v.
COLFIN AI-NV 2, LLC, a Delaware limited liability company; BANK OF AMERICA, N.A., a National Banking Association, as successor by merger to BAC HOME LOANS SERVICING, LP; MTC FINANCIAL, INC., a California corporation; JOHN VIDA, an individual; FEDERAL HOME LOAN MORTGAGE CORPORATION, a federally chartered corporation; ELMER S. CASTRO, an individual; JFK FINANCIAL, INC., a Nevada Corporation; DOE individuals I through XX; and ROE CORPORATONS I through XX, Defendants.

          AKERMAN LLP DARREN T. BRENNER, ESQ. TENESA S. POWELL, ESQ. ATTORNEYS FOR BANK OF AMERICA, N.A. AND FEDERAL HOME LOAN MORTGAGE CORPORATION

          AKERMAN LLP DARREN T. BRENNER, ESQ. TENESA S. POWELL, ESQ. ATTORNEYS FOR BANK OF AMERICA, N.A. AND FEDERAL HOME LOAN MORTGAGE CORPORATION

          ROGER P. CROTEAU &ASSOCIATES, LTD. ROGER P. CROTEAU, ESQ. TIMOTHY E. RHODA, ESQ. ATTORNEYS FOR PLAINTIFF LAS VEGAS DEVELOPMENT GROUP, LLC

          BURKE, WILLIAMS &SORENSEN, LLP KOLESAR &LEATHAM RICHARD J. REYNOLDS, ESQ. MICHAEL R. BROOKS, ESQ. ATTORNEYS FOR MTC FINANCIAL, INC.

          STIPULATED JUDGMENT

          RICHARD F. BOULWARE, II UNITED STATES DISTRICT JUDGE

         Plaintiff Las Vegas Development Group, LLC (Plaintiff), Defendant Bank of America, N.A. (Bank of America), Federal Home Loan Mortgage Corporation (Freddie Mac), ColFin AI-NV 2 (ColFin), and MTC Financial Inc. dba Trustee Corps (MTC Financial), by and through their counsel of record, stipulate and agree as follows:

         1. This matter relates to real property located at 5904 Buena Tierra Street, North Las Vegas, Nevada 89031 (the Property) and more specifically described in a deed of trust recorded on February 1, 2005 as instrument No. 20050201-0001342 (the Deed of Trust), which Deed of Trust secured the repayment of a promissory note (the promissory note and the Deed of Trust together are the “Loan”).

         2. On November 2, 2009, as a result of a lien for unpaid HOA assessments, Nevada Association Services, Inc. (the HOA Trustee), as agent for Fiesta Del Norte Homeowners Association (the HOA), recorded a Foreclosure Deed Upon Sale as instrument No. 200911020003473 (the HOA Foreclosure Deed). The HOA Foreclosure Deed states that the Property was sold to the HOA at an HOA Foreclosure Sale conducted on October 9, 2009 (the HOA Sale).

         3. The HOA subsequently conveyed its interest in the Property to Plaintiff via a Quitclaim Deed recorded on March 31, 2011 as instrument No. 201103310003134.

         4. An assignment of the Deed of Trust to Freddie Mac was executed on October 1, 2011, and recorded on October 26, 2011 as instrument No. 20111026-0001256.

         5. As a result of the borrower defaulting his obligation to repay the Note secured by the Deed of Trust, Freddie Mac caused the Deed of Trust to be foreclosed at a foreclosure sale where Freddie Mac acquired title to the Property. A Trustee's Deed was recorded against the Property on October 26, 2011 as instrument No. 20111026-0001257. The Trustee's Deed states that the Property was sold to Freddie Mac at a Deed of Trust foreclosure sale conducted on September 23, 2011 (the Deed of Trust Sale).

         6. Freddie Mac conveyed the Property to Elmer S. Castro as reflected by the Grant Deed recorded on February 21, 2012 as instrument No. 20120221-0002546.

         7. Elmer S. Castro conveyed the Property to ColFin as reflected by the Grant, Bargain, Sale Deed recorded on February 14, 2014 as instrument No. 201402140001321.

         8. On June 5, 2015, Plaintiff filed a lawsuit for quiet title in the Eighth Judicial District Court in Clark County, Nevada, No. A-15-719507-C, which was subsequently removed to the United States District Court for the District of Nevada, case No. 2:15-cv-01394 (collectively, all claims in this lawsuit between ...


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