First And Foremost, Protect The Banks: Eaton Vs. Fannie Mae Ruling In Massachusetts

by Colleen M. Sullivan, Banker & Tradesman
Thursday, June 28th, 2012

The Massachusetts Supreme Judicial Court ruled today that in order to foreclose a lender must have both the mortgage and the note, upholding the ruling of a lower court in Eaton vs Fannie Mae on that point.

The justices also said, however, that this ruling should only apply to foreclosures conducted from now on, not to past foreclosures, and that it would be possible for an agent of the note-holder to foreclose without actually physically possessing the note themselves.