Wells Fargo Bank, NA v. deBree

Wells Fargo Bank, NA (the Bank) filed a complaint for foreclosure against David and Lee Anne deBree, alleging that the deBrees were in default of a mortgage note owned by the Bank. The complaint also alleged that the Bank was a successor by merger to Wells Fargo Home Mortgage, Inc. The deBrees denied they were in default and denied the allegation that the Bank was successor to Wells Fargo Home Mortgage, Inc. The district court granted summary judgment in favor of the Bank. At issue on appeal was an affidavit submitted by the Bank in favor of its motion that showed the rights on the note and mortgage were transferred not to Wells Fargo Bank, NA, but rather to Wells Fargo Home Mortgage, Inc. The Supreme Court vacated the summary judgment and remanded, holding that the Bank failed to offer evidence that it owned the deBrees' mortgage and note, and therefore, it failed to demonstrate that there were no genuine issues of material fact and that it was entitled to judgment as a matter of law. View "Wells Fargo Bank, NA v. deBree" on Justia Law