Ditech Financial, LLC v. SFR Investment Pool 1, LLC et al

Filing 60

ORDER Granting 59 Stipulation to Substitute Real Party in Interest. Signed by Magistrate Judge Elayna J. Youchah on 2/3/2020. (Copies have been distributed pursuant to the NEF - MR)

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ALEX L. FUGAZZI, ESQ.
Nevada Bar No. 9022
BRADLEY T. AUSTIN, ESQ.
Nevada Bar No. 13064
SNELL & WILMER L.L.P.
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
[e-mail]
Attorneys for Plaintiff/Counter-Defendant Ditech
Financial LLC

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

Snell & Wilmer
L.L.P.

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DITECH FINANCIAL LLC, a Delaware
corporation,
Plaintiff,
vs.
SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company;
MONTENEGRO ESTATES, a Nevada NonProfit Corporation, and NEVADA
ASSOCIATION SERVICES, INC., a Nevada
Limited Liability Company.
Defendants.

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SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company,
Counter-Claimant,

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vs.
DITECH FINANCIAL, LLC, a Delaware
Corporation; THE BANK OF NEW YORK
MELLON FKA THE BANK OF NEW YORK
AS TRUSTEE, FOR THE BENEFIT OF THE
CERTIFICATEHOLDER, CWABS, INC.
ASSET-BACKED CERTIFICATES, SERIES
2007-BC1; JOSEPH GROSS, an individual;
TONI ANN VITTA GROSS, an individual;
Counter-Defendants.

Case No. 2:16-cv-01880-JAD-

STIPULATION TO SUBSTITUTE REAL
PARTY IN INTEREST IN PLACE OF
CURRENT DEFENDANT/COUNTER
CLAIMANT AND TO AMEND
CAPTION

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Plaintiff/Counter-Defendant

Ditech

Financial

LLC

(“Ditech”),

Defendant/

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Counterclaimant SFR Investments Pool 1, LLC (“SFR”), and Defendant Montenegro Estates (the

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“HOA”) (collectively, the “Parties”1) hereby stipulate that The Bank of New York Mellon fka

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The Bank of New York as Trustee for the Certificateholders of CWABS, Inc., Asset-Backed

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Certificates, Series 2007-BC1 (“BNYM”) may be substituted as Plaintiff and Counter-Defendant

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in place of Ditech.

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STIPULATION
I.

STATEMENT OF RELEVANT FACTS

Nevada, 89012, APN #178-24-618-016 (the “Property”). On or about July 20, 2006, Counter-

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LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

This matter concerns the real property located at 165 Lemongold Street, Henderson,

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Snell & Wilmer
L.L.P.

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Defendants Joseph Gross and Toni Ann Vitta Gross (the “Borrowers”) executed a grant, bargain,

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and sale deed, which was recorded in the Office of the Clark County Recorder on July 25, 2006.

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On or about July 20, 2006, the Borrowers executed a deed of trust in the amount $270,750.00, in

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favor of Mortgage Electronic Registration Systems (“MERS”) as the beneficiary. (“Deed of

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Trust”). The Deed of Trust was recorded by the Recorder’s Office on July 25, 2006.

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On November 9, 2010, an Assignment of Deed of Trust was recorded, assigning the Deed

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of Trust to BNYM. On October 2, 2015, an Assignment of Deed of Trust was recorded,

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assigning the Deed of Trust to Green Tree Servicing, LLC.

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Servicing merged with Ditech Financial LLC, under the name Ditech Financial LLC.

In August 2015, Green Tree

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On January 7, 2013, Defendant Nevada Association Services, Inc. (“NAS”) recorded a

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notice of delinquent assessment (lien) on behalf of Defendant Montenegro Estates (“the HOA”).

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On March 11, 2013, NAS recorded a notice of default and election to sell on behalf of the HOA.

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On July 16, 2013, NAS recorded a notice of foreclosure sale on behalf of the HOA. (“Notice of

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Foreclosure Sale”). On August 19, 2013, NAS recorded a foreclosure deed on behalf of the

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HOA. (“Foreclosure Deed”). The foreclosure deed upon sale indicated that SFR purchased a

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deed to the Property for $17,000.00 at public auction on August 9, 2013.

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Defendant Nevada Association Services, Inc., Counter-Defendant Joseph Gross, and Counter-Defendant
Toni Ann Vitta Gross have not appeared in this action and are not parties to this stipulation.

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On or about November 7, 2017, Ditech assigned the Deed of Trust back to BNYM, and as

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of that date, BNYM is the real party in interest as Plaintiff and Counter-Defendant for this case.

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A true and correct copy of the Assignment of Deed of Trust is attached hereto as Exhibit 1.

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The Parties now wish to substitute BNYM as the real party in interest in place and stead of

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the current Plaintiff and Counter-Defendant, Ditech.

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II.

LEGAL BASIS FOR SUBSTITUTION OF PARTIES

prosecuted and maintained by the real party in interest. If the real party in interest is no longer

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involved in the pending action, FRCP 17(a)(3) provides parties with adequate time to file a

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substitution for the real party in interest. Under FRCP 25(c), a party may bring a motion to

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LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

Federal Rule of Civil Procedure (“FRCP”) 17(a)(1) requires that every action be

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Snell & Wilmer
L.L.P.

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substitute the real party in interest when there is a transfer of interest during the course of the

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litigation.

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When BNYM acquired an interest in the Deed of Trust in November 2017, it became the

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real party in interest as Plaintiff and Counter-Defendant in this litigation. Accordingly, the

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Parties ask the Court to allow the substitution of BNYM as Plaintiff and Counter-Defendant, in

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place of Ditech, pursuant to FRCP 17(a) and 25(c).

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IT IS THEREFORE STIPULATED AMONG THE PARTIES HERETO THAT:

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1.

The current Plaintiff and Counter-Defendant Ditech Financial LLC shall be

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removed as Plaintiff and Counter-Defendant in this case, and The Bank of New York Mellon fka

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The Bank of New York as Trustee for the Certificateholders of CWABS, Inc., Asset-Backed

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Certificates, Series 2007-BC1, as the real party in interest, shall be substituted in its place as

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Plaintiff and Counter-Defendant; and

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2.

The caption of this matter shall be altered to reflect that change, to wit, it shall

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hereafter read as follows:

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///

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///

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///

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THE BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK AS TRUSTEE
FOR THE CERTIFICATE HOLDERS OF
CWABS, INC., ASSET-BACKED
CERTIFICATES, SERIES 2007-BC1, a Trust,
Plaintiff,
vs.
SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company;
MONTENEGRO ESTATES, a Nevada NonProfit Corporation, and NEVADA
ASSOCIATION SERVICES, INC., a Nevada
Limited Liability Company.
Defendants.

Case No. 2:16-cv-01880-JAD-GWF

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LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

Snell & Wilmer
L.L.P.

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SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company,
Counter-Claimant,
vs.

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THE BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK AS TRUSTEE
FOR THE CERTIFICATE HOLDERS OF
CWABS, INC., ASSET-BACKED
CERTIFICATES, SERIES 2007-BC1;
JOSEPH GROSS, an individual; TONI ANN
VITTA GROSS, an individual;
Counter-Defendants.
SIGNATURES CONTINUED ON NEXT PAGE

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IT IS SO STIPULATED.
DATED this 31st day of January 2020.

DATED this 31st day of January 2020.

SNELL & WILMER L.L.P.

KIM GILBERT EBRON

/s/ Bradley Austin
Alex L. Fugazzi (NV Bar No. 9022)
Bradley T. Austin (NV Bar No. 13064)
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
Phone: [phone]
Fax: [phone]

/s/ Jason Martinez
Diana S. Ebron (NV Bar No. 10580)
Jacqueline A. Gilbert (NV Bar No. 10593)
Karen L. Hanks (NV Bar No. 9578)
Jason Martinez, Esq. (NV Bar No. 13375)
7625 Dean Martin Drive, Suite 110
Las Vegas, NV 89139
Phone: [phone]
Fax: [phone]

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Attorneys for Plaintiff/Counter-Defendant Ditech
Financial LLC

Attorneys for Defendant/Counterclaimant SFR
Investments Pool 1, LLC

LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

Snell & Wilmer
L.L.P.

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DATED this 31st day of January 2020.

DATED this 31st day of January 2020.

SNELL & WILMER L.L.P.

LEACH KERN GRUCHOW ANDERSON
SONG

/s/ Bradley Austin
Alex L. Fugazzi (NV Bar No. 9022)
Bradley T. Austin (NV Bar No. 13064)
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
Phone: [phone]
Fax: [phone]

/s/ T. Chase Pittsenbarger
Sean L. Anderson (NV Bar No. 7259)
T. Chase Pittsenbarger (NV Bar No. 13740)
2525 Box Canyon Drive
Las Vegas, NV 89128
Phone: [phone]
Fax: [phone]

Attorneys for The Bank of New York Mellon fka
The Bank of New York as Trustee for the
Certificateholders of CWABS, Inc., Asset-Backed
Certificates, Series 2007-BC1

Attorneys for Defendant Montenegro Estates

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ORDER

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Based upon the stipulation of the Parties, including the real party in interest,

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IT IS ORDERED that the current Plaintiff and Counter-Defendant Ditech Financial LLC

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shall be removed as Plaintiff and Counter-Defendant in this case, and The Bank of New York

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Mellon fka The Bank of New York as Trustee for the Certificateholders of CWABS, Inc., Asset-

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Backed Certificates, Series 2007-BC1, as the real party in interest, shall be substituted in its place

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as Plaintiff and Counter-Defendant.

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IT IS FURTHER ORDERED that the caption of this matter shall be altered to reflect

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that change, to wit, the case shall hereafter read as follows:

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THE BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK AS TRUSTEE
FOR THE CERTIFICATE HOLDERS OF
CWABS, INC., ASSET-BACKED
CERTIFICATES, SERIES 2007-BC1, a Trust,
Plaintiff,
vs.
SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company;
MONTENEGRO ESTATES, a Nevada NonProfit Corporation, and NEVADA
ASSOCIATION SERVICES, INC., a Nevada
Limited Liability Company.
Defendants.

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LAW OFFICES
3883 Howard Hughes Parkway, Suite 1100
Las Vegas, Nevada 89169
702.784.5200

Snell & Wilmer
L.L.P.

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Case No. 2:16-cv-01880-JAD-GWF

SFR INVESTMENTS POOL 1, LLC, a
Nevada Limited Liability Company,
Counter-Claimant,

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vs.
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THE BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK AS TRUSTEE
FOR THE CERTIFICATE HOLDERS OF
CWABS, INC., ASSET-BACKED
CERTIFICATES, SERIES 2007-BC1;
JOSEPH GROSS, an individual; TONI ANN
VITTA GROSS, an individual;
Counter-Defendants.

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IT IS SO ORDERED.

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Dated:

February 3

, 2020
__________________________________
UNITED STATES MAGISTRATE JUDGE

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