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Ames v. JP Morgan Chase Bank NA

The debtors lacked standing to challenge the validity of the assignment of the security deed to their residential property, which they executed in favor of the defendant's predecessor in interest.

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In 2007, Cindy and David Ames executed a security deed to their residential property in favor of Washington Mutual Bank, F.A. WaMu. WaMu’s receiver, the Federal Deposit Insurance Corporation FDIC, later assigned the deed to JP Morgan Chase Bank, N.A Chase. When Chase initiated a non-judicial foreclosure sale on the property, the Ameses filed lawsuits in state court and then in federal court, alleging among other things that the assignment of the security deed to Chase was invalid.

We granted certiorari to decide whether the Georgia Court of Appeals erred in concluding in the state lawsuit that the Ameses lack standing to bring such a challenge to the assignment, a conclusion based on that court’s previous decisions in Montgomery v. Bank of America, 321 Ga. App. 343 740 SE2d 434 2013, and Jurden v. HSBC Mortgage Corp., 330 Ga. App. 179 765 SE2d 440 2014 physical precedent only. As explained below, we hold that the Court of Appeals did not err. We also hold, alternatively, that the assignment issue raised by the Ameses is precluded because it has already been resolved against them in their federal lawsuit by the United States Court of Appeals for the Eleventh Circuit. See Ames v. J.P. Morgan Chase Bank, N.A., 623 Fed. Appx. 983, 986-987 11th Cir. 2015. We therefore affirm.

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