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Tag : securitized mortgage

R is for Real Party in Interest Rule

Bankruptcy Alphabet, Chapter 13

Federal Rules of Civil Procedure (F.R.C.P.)  §17 governs who may sue or be sued and it is this rule that creates particular problems when loan servicers and other entities file Proofs of Claim in a debtor’s Chapter 13 bankruptcy case. Rule 17 is incorporated into Federal Rules of Bankruptcy Procedure (F.R.B.P.)  §3001, which requires a […]

Testimony in In re Kemp Damaging for Mortgage Industry

Chapter 13, Foreclosure

 The Court in In re Kemp 2010 WL 4777625 (Bankr. D. N.J. November 10, 2010) held that a claim filed by a mortgage servicer would be disallowed when that creditor did not have possession of the note and the note was not endorsed to the creditor at the time the claim was filed. The bankruptcy […]