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Matt v. HSBC Bank USA, N.A.

United States Court of Appeals, First Circuit

April 15, 2015

JODI B. MATT, Plaintiff, Appellant,
v.
HSBC BANK USA, N.A., ON BEHALF OF THE TRUST FUND AND FOR THE BENEFIT OF ACE SECURITIES CORP. HOME EQUITY LOAN TRUST SERIES 2005-HE4 ASSET BACKED PASS THROUGH CERTIFICATES, WELLS FARGO BANK, N.A., COUNTRYWIDE SECURITIES CORPORATION, BANK OF AMERICA, N.A., SUCCESSOR BY MERGER TO BAC HOME LOANS SERVICING, LP, FORMERLY KNOWN AS COUNTRYWIDE HOME LOANS SERVICING, LP, HSBC BANK USA, N.A. and ACE SECURITIES CORP., Defendants, Appellees

As Amended May 7, 2015.

APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS. Hon. Patti B. Saris, U.S. District Judge.

Glenn F. Russell, Jr., with whom Glenn F. Russell, Jr., & Associates, P.C., was on brief, for appellant.

Courtney L. Benson, with whom James W. McGarry, Chad W. Higgins and Goodwin Procter LLP, were on brief, for appellees.

Before Torruella, Howard, and Kayatta, Circuit Judges.

OPINION

Page 369

TORRUELLA, Circuit Judge.

In an attempt to avert foreclosure proceedings in state court, Plaintiff-Appellant Jodi B. Matt (" Matt" ) filed this federal case in the District of Massachusetts against Defendants-Appellees HSBC Bank USA, National Association on Behalf of the Trust Fund (" HSBC as Trustee" ) and for the Benefit of ACE Securities Corp. Home Equity Loan Trust Series 2005-HE4 Asset [Backed] Pass Through Certificates (" Trust" ), and several other defendants (other creditors and servicers that have previously held rights over the loan). In her complaint, Matt asserts multiple claims arising from the purportedly invalid transfer and assignment of a mortgage granted over her home in Canton, Massachusetts.

While this appeal was pending, Matt and Select Portfolio Servicing, Inc. (" SPS" ), a servicer acting on behalf of HSBC as Trustee, entered into a Home Affordable Modification Agreement (the " Loan Modification Agreement" ). Pursuant to the Loan Modification Agreement, Matt renegotiated the terms of her existing mortgage loan, and, as a result, her mortgage loan is current and she is no longer subject to any actual or threatened foreclosure proceedings. Consequently, we dismiss this appeal as moot.

I. Background

The material facts in this case are undisputed. On April 6, 2005, Matt obtained a mortgage loan secured by her property (the " Mortgage" ) from Northeast Mortgage Corporation (" Northeast" ), and executed a promissory note (the " Note" ) for $200,000 in favor of Northeast. On the same day, Northeast assigned the Mortgage to New Century Mortgage Corporation (" New Century" ). This assignment of the Mortgage to New Century was recorded in the Norfolk County Registry of Deeds on December 19, 2006. New Century subsequently assigned the Mortgage to HSBC as Trustee on November 6, 2007. This subsequent assignment was recorded in the Norfolk County Registry of Deeds on or about November 16, 2007.

As of today, HSBC as Trustee is the mortgagee of record. The Note pertaining to the Mortgage followed a different track, but was later conveyed to the Trust. HSBC as Trustee initiated the foreclosure action on behalf of the Trust in state court to which Matt responded with the instant case. We explain the facts in more detail in an attempt to unravel Matt's claims.

A. The Mortgage and Note

As stated, Northeast assigned the Mortgage and endorsed the Note to New Century. Thereafter, New Century endorsed the Note in blank so that it became payable to the bearer rather than to a named payee. The Note was then sold and conveyed by New Century into the Trust at some point before September 27, 2005. Then, New Century, which had remained the mortgagee of record, filed for bankruptcy and entered into a bankruptcy court-approved stipulation with Countrywide Home Loans, Inc. (" Countrywide" ) and several Countrywide affiliates. The stipulation stated that " Countrywide has serviced and is servicing loans currently pursuant to contractual agreement," and that " ...


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