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MTGLQ Investors, L.P. v. Mortgage Lenders Electronic Network USA, Inc.

Superior Court of Maine, Cumberland

September 18, 2017

MTGLQ INVESTORS, L.P.
v.
MORTGAGE LENDERS ELECTRONIC NETWORK USA, INC., MORTGAGE ELECTRONIC REGISTRATION SYSTEM, INC And MICHAEL SCHWARTZ and TUNDE SCHWARTZ, Defendants

          Pltf: MTGLQ Investors L.P. Counsel: John Ney Jr., Esq Carrie Folsom, Esq. Monica Schoenbaum, Esq.

          Def: Michael Schwartz Counsel: Frank D'Alessandro, Esq.

          ORDER ON PLAINTIFFS MOTION FOR SUMMARY JUDGMENT

          A. M. Horton, Justice.

         Plaintiff 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).

         Background

         The following summary is for background only, and is not necessarily a summary of facts established for purposes of summary judgment.

         Defendant 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evidently did business in Maine as a mortgage lender, but, according to the Complaint, its license to operate in Maine was revoked in 2007.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 2012.

         Defendant 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 Complaint.

         Defendants 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.

         The 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 assigns)."

         The 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 ...

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