McDonnell Property Analytics Standing Investigator™ Report instrumental in homeowner victory.
In June of 2006, Margaret Wise, a California homeowner, took out a loan to finance her property in Redondo Beach from Wells Fargo. Her loan was secured by a Deed of Trust on the property. She defaulted on her loan and was denied a loan modification. A notice of default was recorded on August 10, 2011.
Represented by Prosper Law, a leading Plaintiff foreclosure law firm in southern California, Wise filed a complaint on October 17, 2011. The complaint principally asked for monetary damages, that the Court enjoin the foreclosure process and that the Court declared that the Defendants had no rights to foreclose on her property.
McDonnell Property Analytics provided Wise with our leading in class Standing Investigator ™ Report. Prosper Law referenced the report in their complaint in paragraph 22 and attached the report in full as Exhibit B. The information contained in the Standing Investigator ™ allowed Prosper to support their allegations that errors in the securitization process meant that US Bank did not have the right to enforce the mortgage based on the information supplied to the Court. As a result, the Court denied the Defendant’s motion to dismiss the case, and allowed Wise and Prosper Law to continue the fight and prove the illegality of the foreclosure.
The Standing Investigator™ Report also supported her claim that Defendants’ actions in attempting to collect money, which they had no right to collect, were deceptive business practices under California Business & Professions Code Section 17200. This claim as well as RESPA and TILA claims survived that motion to dismiss.