Bank of Am., N.A. v. GreenleafAnnotate this Case
Scott Greenleaf executed a promissory note to Residential Mortgage Services, Inc. (RMS). That same day, Greenleaf signed a mortgage on property securing that debt. The mortgage listed RMS as the lender of the debt and Mortgage Electronic Registration Systems, Inc. (MERS) as the nominee for the lender. MERS subsequently assigned its interest in the mortgage and note to Countrywide Home Loans Servicing, LP (BAC). BAC then merged with Bank of America, N.A. (Bank). Five years later, the Bank instituted foreclosure proceedings against Greenleaf. The district court entered a judgment of foreclosure in favor of the Bank. Greenleaf appealed, arguing that the Bank lacked standing to foreclose on the property. The Supreme Court agreed with Greenleaf and vacated the judgment, holding (1) the Bank proved its status as the holder of the note but failed to establish its ownership of Greenleaf’s mortgage; and (2) because the Bank failed to satisfy two of the Higgins foreclosure requirements, the Bank was not entitled to a judgment of foreclosure in any event.