Raising another procedural hurdle to residential foreclosure cases, a state appeals court ruled Tuesday that a mortgage lender must demonstrate that it possesses the note or an assignment of the note before filing its complaint, the Appellate Division says.
“If plaintiff did not have the note when it filed the original complaint, it lacked standing to do so, and it could not obtain standing by filing an amended complaint,” the court said in Deutsche Bank National Trust Co. v. Mitchell, A-4925-09, reversing summary judgment for the bank and vacating the sheriff’s sale of the foreclosed property.
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