Wednesday, January 25, 2012

Nevada court: Lenders must have foreclosure papers

(AP) LAS VEGAS — A pair of Nevada Supreme Court rulings requiring mortgage lenders to produce all required foreclosure documents before repossessing a house won't establish a new legal standard because they rely on state high court opinions issued last July, a court official and a lawyer involved in the case said Tuesday.

In unanimous rulings Friday in the state hardest hit by foreclosures during the Great Recession, the high court ruled there was insufficient documentation for separate foreclosure cases involving Carl Piazza and lender CitiMortgage Inc. in Las Vegas, and Caroline Karl and lenders including HSBC Bank USA in Reno.

The court sent Piazza's case back to Clark County District Judge Donald Mosley, who had determined that lenders produced enough documentation to foreclose, and Karl's case back to Washoe County District Judge Patrick Flanagan.

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