MTGLQ INVESTORS, L.P.
MORTGAGE LENDERS ELECTRONIC NETWORK USA, INC., MORTGAGE ELECTRONIC REGISTRATION SYSTEM, INC And MICHAEL SCHWARTZ and TUNDE SCHWARTZ, Defendants
MTGLQ Investors L.P. Counsel: John Ney Jr., Esq Carrie
Folsom, Esq. Monica Schoenbaum, Esq.
Michael Schwartz Counsel: Frank D'Alessandro, Esq.
ORDER ON PLAINTIFFS MOTION FOR SUMMARY
MTGLQ Investors, L.P. has filed a Motion for Summary Judgment
on its Complaint for Declaratory Judgment, To Quiet Title
and/or For Equitable Relief The motion is opposed by
Defendant Michael Schwartz. Plaintiff has not filed a reply
memorandum. The court elects to decide the Motion without
oral argument. See M.R. Civ. P. 7(b)(7).
following summary is for background only, and is not
necessarily a summary of facts established for purposes of
Mortgage Lenders Network USA, Inc. ""MLNUSA")
was a mortgage lender with offices in Connecticut. MLNUSA has
not been served in this case. At one point, MLNUSA evidently
did business in Maine as a mortgage lender, but, according to
the Complaint, its license to operate in Maine was revoked in
2007. According to an attachment to Plaintiffs Motion, MLNUSA
was the debtor in a Chapter 11 bankruptcy case in Delaware.
See In re Mortgage Lenders Network USA, INC., U.S.
Bankr. Ct, D. Del, Case No. 07-10146 (PJW). The Entry and
Final Decree and Order Closing Cases attached to the Motion
indicates that a Mortgage Lenders Network Liquidating Trust
was formed in the course of the bankruptcy and that a final
distribution to creditors of trust assets was made as of May
Mortgage Electronic Registration System, Inc. (MERS) is an
entity that serves as nominee on mortgages, for purposes of
recording and tracking the status of mortgages. MERS has been
served but has not filed a response to the Plaintiffs
Michael Schwartz and Tunde Schwartz ["the Schwartz
Defendants"] are individuals who own property on Chase
Street, South Portland. Both of them have filed answers to
the Complaint, but only Michael Schwartz has filed an
opposition to the Plaintiffs Motion for Summary Judgment. In
his affidavit submitted in response to the Motion, Mr.
Schwartz acknowledges signing a mortgage with MLNUSA.
note and mortgage attached to the complaint indicate that
they were executed by Michael and Tunde Schwartz as borrowers
and mortgagors. The note is in favor of MLNUSA. The mortgage
identifies MLNUSA as "lender" and MERS as the
"mortgagee" "for purposes of recording this
mortgage, " and indicates that the borrowers
"mortgage, grant and convey the Property to MERS (solely
as nominee for Lender and Lender's successors and
complaint alleges that the mortgage has been assigned through
a series of recorded assignments as follows:
• by MERS to BAC Home Loans Servicing, L.P. in 2010
• by Bank of America, N.A., as successor by merger to
BAC Home Loans Servicing, L.P. to Nationstar ...