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Massachusetts High Court voids foreclosure of securitized mortgage

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • January 11 2011

In a recent decision that has already received national publicity, the Massachusetts Supreme Judicial Court has become the first state high court to rule that mortgages securing loans that are pooled into a trust and converted into mortgage-backed securities must be specifically assigned to the foreclosing lender before the foreclosure is commenced