Mealey's Banking & Finance - Standing Lacking For UCL Claim In Foreclosure Dispute, 9th Circuit Affirms

PASADENA, Calif. - Homeowners' wrongful foreclosure claims against mortgage lenders, including a claim under California's unfair competition law (UCL), alleging that the assignment of their home loan obligation to a securitized investment trust was void because it did not comply with the pooling and servicing agreement (PSA) governing the trust fail because the allegation is not plausible, the Ninth Circuit U.S. Court of Appeals held Aug. 6 (Paul Junod and Patricia Junod v. Mortgage Electronic Registration Systems, Inc., et al., No. 12-55712, 9th Cir.; 2014 U.S. App. LEXIS 15142).

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