United States District Court, D. Oregon
JEFFREY A. MYERS, JOHN P. BOWLES, TIMOTHY J. ZIMMERMAN, Bowles Fernandez Law LLC, Lake Oswego, OR, Attorneys for Plaintiffs.
TERESA M. SHILL, Routh Crabtree Olsen, PC, Portland, OR, Attorneys for Defendant Northwest Trustee Services, Inc.
WILLIAM G. FIG, Sussman Shank, LLP, Portland, OR, Attorneys for Defendant Federal National Mortgage Association.
OPINION AND ORDER
ANNA J. BROWN, District Judge.
This matter comes before the Court on the Motion (#39) of Federal National Mortgage Association (FNMA) for Summary Judgment.
For the reasons that follow, the Court GRANTS FNMA's Motion.
The facts in this matter are undisputed unless otherwise noted:
On April 20, 2005, Plaintiffs Randy Liu and Monica Chen signed a Promissory Note with Homecomings Financial Network, Inc. (HFN) secured by property located at 7145 S.W. 142nd Avenue, Beaverton, Oregon. Plaintiffs also entered into a Trust Deed as to that property with Plaintiffs as "borrowers, " Transnation Title as Trustee, and HFN as the lender and beneficiary. It is undisputed that GMAC Mortgage Corporation was the servicer of the Note.
The Trust Deed was recorded in Washington County, Oregon, on April 27, 2005.
"Shortly after the origination of the "loan" and prior to July 25, 2005, [HFN] sold its interest in the Note" to Fannie Mae, who retained GMAC as the servicer of the Note. Statement of Agreed Facts for Summ. J. at 2.
On July 25, 2005, an Assignment of Deed of Trust was recorded in Washington County in which HFN "grant[ed], [sold], assign[ed], transfer[red], and convey[ed] to GMAC Mortgage Corporation" the Plaintiffs' Trust Deed.
On August 4, 2011, GMAC executed an Appointment of Successor Trustee in which GMAC appointed Defendant Northwest Trustee Services, Inc. (NWTS) as successor trustee of the Plaintiffs' Trust Deed.
On August 10, 2011, the Appointment of Successor Trustee was recorded in Washington County. Also on August 10, 2011, NWTS executed a Notice of Default and Election to Sell against Plaintiffs' property in which NWTS alleged a default on the Note ...