Law Practice
Aug. 29, 2012
Who can enforce mortgages sold in the secondary market?
Courts and litigants are often confused about just who can enforce a mortgage that has been transferred in the secondary market. Here's the law. By Mark Didak
Whether the issue is the right to demand and collect payments on a mortgage note or foreclosing under a trust deed, courts and litigants are often confused about just who can enforce a mortgage that has been transferred in the secondary market. Here's the law.
A mortgage can only be enforced by the owner of the note it secures. Adler v. Sargent, 109 Cal. 42, 48-50 (1895). In other words, one possessing a mortgage or deed of trus...
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