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Banking Law

[06/19] Federal Deposit Insurance Corporation v. Cashion
Summary judgment in favor of the plaintiff acting as receiver for The Bank of Asheville (Bank), in an action by plaintiff to recover the deficiency owed on a promissory note executed by defendant and payable to the Bank, is affirmed, where: 1) the district court thus did not err in concluding that no genuine issue of material fact existed as to the plaintiff's status as holder of the Note; 2) the district court did not abuse its discretion in striking the surreply and affidavit; and 3) defendant has not come forward with evidence that creates a genuine issue of material fact as to whether the Note has been cancelled or assigned.

[06/14] Fryzel v. Mortgage Electronic Registration Sys., Inc.
In consolidated cases brought by plaintiffs, defaulted mortgagors of Rhode Island real estate, to prevent foreclosure or eviction, on the shared ground that ostensible assignments of defendant-mortgagees' legal titles are invalid, the district court erred in ordering a stay in the nature of a preliminary injunction against foreclosure and possessory proceedings, and the cases are remanded with instructions to hold a prompt hearing with reasonable notice on the question whether the injunction should be continued, and to establish specific limits of time and expense if the reference for mediation is to remain in effect.

[06/14] Macera v. Mortgage Electronic Registration Sys., Inc.
In one of the cases described in In re: Mortgage Foreclosure, where it was held that the district court erred in issuing an injunction, the case is remanded under that holding, and further, for prompt adjudication of defendant's motion to dismiss on the grounds of incomplete diversity of parties, if appropriate after the court has taken the remedial action required by In re: Mortgage Foreclosure.

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