Lackey, Jr. v. Wells Fargo Bank, N.A., et al., No. 13-2217 (8th Cir. 2014)
Annotate this CasePlaintiff filed suit against Wells Fargo and Freddie Mac, asserting several deficiencies with the foreclosure of his home and seeking to quiet title to the property in himself. The district court granted defendants' motion for summary judgment. The court found that Wells Fargo was holder of the note and, thus, was entitled to appoint a successor trustee to the deed of trust; the court rejected plaintiff's argument that Missouri law required Wells Fargo to produce the original note at the time of the foreclosure proceeding; and plaintiff failed to provide clear and satisfactory evidence that the foreclosure sale was conducted improperly, more particularly that the statutory notice requirements were not met. Having determined that plaintiff's wrongful foreclosure action failed, plaintiff cannot show that he has superior title to the property, and therefore, could not succeed on his quiet title action. Accordingly, the court affirmed the district court's grant of summary judgment.
Court Description: Civil case - Foreclosure law. Wells Fargo was the holder of plaintiff's note and was entitled to appoint a successor trustee to the deed of trust; Missouri law did not require Wells Fargo to produce the original note at the time of the foreclosure proceeding, as this "show-me-the-note" theory has been consistently rejected by the federal courts in Missouri and courts nationally; plaintiff failed to provide clear and satisfactory evidence that the foreclosure sale was conducted improperly; since plaintiff's wrongful foreclosure action fails, he cannot show he has superior title to the property and cannot, therefore, succeed on his quiet title action.
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