In a significant decision that could widely impact mortgage foreclosure cases, the Florida Supreme Court has refused to allow a bank and a homeowner to settle a mortgage foreclosure case after the case had been appealed. Finding that the issue was "one of great public importance" that "has the potential to impact the mortgage foreclosure crisis throughout this state," the court rejected the parties' voluntary dismissal and ordered the homeowner and the bank to proceed with the appeal.
In Pino v. The Bank of New York, No. SC11-697 (Fla. December 8, 2011), the Bank of New York Mellon ("BNY Mellon") filed a mortgage foreclosure case against a homeowner, Roman Pino. BNY Mellon alleged in the complaint that it owned the note, and held the mortgage, based on an assignment from an earlier lender. Pino soon filed a motion for sanctions, alleging that the assignment document was fraudulent. In response, BNY Mellon voluntarily dismissed the mortgage foreclosure case. Five months later, BNY Mellon filed an identical mortgage foreclosure case against Pino but attached a new assignment, dated after the original notice of voluntary dismissal had been filed.
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