Posted by Karen Pooley

WASHINGTON BANKER’S ASSOCIATION ATTEMPTS TO OVERTURN TWO WASHINGTON SUPREME COURT DECISIONS!

This is the Washington Homeowners’ alert to the Washington Bankers Association’s attempt to overturn two Washington Supreme Court decisions:  Lyons v. U.S. Bank (2014) and Bain v. Metropolitan Mortgage (2012) with the introduction of Senate Bill 5968, a Pro-Banker Bill. 

Both of these Washington Supreme Court cases held that the foreclosing entity must be the owner of the obligation evidencing the debt (or the promissory note) yet the Pro-Banker Bill, Senate Bill 5968, would allow lenders to foreclose on property in the state of Washington without clear ownership of the underlying debt! Continue reading →