In an important win for consumers, a November 2013 foreclosure by Nationstar was declared void today on two separate grounds. See full opinion here.
First, the Court ruled that strict compliance is still the standard in federal courts with respect to Minnesota foreclosures by advertisement: "The weight of authority suggests that a mortgagor must strictly comply with foreclosure statutes when executing a sheriff’s sale... Because there is no factual dispute that Defendant did not record the Sheriff’s Certificate within ten days as required by § 580.12, the Court grants Plaintiffs’ motion on this claim and voids the November 14, 2013 Sheriff’s Sale of the Property."
Continuing its reasoning on Minnesota's anti-dual-tracking law, the Court wrote: "The issue is whether Plaintiffs’ incomplete Loan Modification Application triggered Defendant’s duty to halt the foreclosure sale under § 582.043, subd. 6(c)... Having received Plaintiffs’ Loan Modification Application more than seven days in advance of the Sheriff’s Sale, including 'core documents,' a plain reading of the statute counsels that Defendant was obligated to halt the sale. There being no disputed issues of material fact as to Plaintiffs’ § 582.043 claim, the Court grants summary judgment on Count III. "
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