Dyer v. Wells Fargo Bank, N.A., No. 15-2421 (1st Cir. 2016)Annotate this Case
Edythe Dyer executed a promissory note to Dreamhouse Mortgage Corporation and granted a mortgage on her property in Boston, Massachusetts to Mortgage Electronic Registration Systems, Inc. (MERS). MERS assigned the mortgage to U.S. Bank. Wells Fargo was U.S. Bank’s servicer of the loan. U.S. Bank later notified Dyer that it intended to foreclose on the property by utilizing the statutory power of sale provided for in Mass. Gen. Laws ch. 183, 21. Dyer filed suit naming U.S. Bank and Wells Fargo as defendants, arguing, inter alia, that U.S. Bank was not a proper party to utilize the statutory power of sale. The case was removed to federal court, where the parties consented to a proceeding before a magistrate judge. The magistrate judge granted Defendants’ motion for judgment of the pleadings and dismissed all of Dyer’s claims. The First Circuit affirmed, holding (1) U.S. Bank was authorized to exercise the statutory power of sale; and (2) the magistrate judge correctly dismissed Dyer’s Massachusetts General Laws Chapter 93A claim against Wells Fargo.