(Salt Lake City, UT) - Utah senior federal Judges Dee Benson and Bruce Jenkins have ruled Bank of America's foreclosure arm, ReconTrust Company, N.A. (NYSE: "BAC") may not be qualified to perform non-judicial foreclosures in Utah. However, this week senior federal Judge David Sam ruled that ReconTrust is operating under the National Bank Act regulated by the Office of the Comptroller of the Currency (OCC), is a trustee under the Texas law where ReconTrust is located rendering Utah Code 57-1-21(3) inapplicable. Ruling
The ruling comes in a case filed by attorney John Christian Barlow, in which ReconTrust is being sued by Utah homeowner Garry Franklin Garrett accusing ReconTrust of conducting an unlawful foreclosure sale because it's is not a qualified trustee under Utah Law.
The judge's decision conflicts with rulings by other Utah federal judges over the Bank of America's Utah foreclosure activities. The Utah Attorney General intervened in another Utah homeowner's lawsuit filing an Amicus Curiae petition charging that the Bank of America was illegally foreclosing on Utah homeowners. Peni Cox vs ReconTrust
Read on.
I6J6 Federa Judge Sam Rules for Rec on Trust
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