Wright v. Residential Acceptance Network

Filing 16

ORDER granting 10 Motion for TRO; deferring ruling on 10 Motion for Preliminary Injunction. See order for details. Signed by Judge Clark Waddoups on 5/6/2011. (jmm)

IN THE UNITED STATES DISTRICT COURT
DISTRICT OF UTAH, CENTRAL DIVISION

DRUE WRIGHT, an individual,

ORDER GRANTING MOTION FOR TEMPORARY
RESTRAINING ORDER AND INUJUNCTIVE

Plaintiff,

RELIEF

vs.
RESIDENTIAL ACCEPTANCE NETWORK,
INC., a Utah corporation; WELLS FARGO
BANK, N.A., a national association; ETITLE
INSURANCE AGENCY, LLC, a Utah limited
liability company; and DOES 1-10,

Case No. 2:11-cv-00402-CW

Defendants.

The Court, upon consideration of Plaintiff’s motion, memorandum, and the oral
arguments of counsel for Plaintiff and Defendant eTitle, finds that Plaintiff has met the
requirements for issuing a Temporary Restraining Order by demonstrating that: (1) the case
presents serious issues on the merits that will be the subject of further litigation; (2) Plaintiff will
suffer irreparable harm if the injunction is denied and a Trustee’s sale is conducted or a Trustee’s
Deed is recorded; (3) the threatened injury to Plaintiff significantly outweighs the harm that the
temporary injunction may cause the Defendants; and (4) the injunction, if issued, will not
adversely affect the public interest.

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Plaintiff established that all named Defendants received notice of the hearing on
Plaintiff’s motion for a temporary restraining order, so this Order issues with notice to
Defendants.1
ORDER
The Court HEREBY GRANTS a TEMPORARY RESTRAINING ORDER. Defendants
Residential Acceptance Network, Inc., Wells Fargo Bank, N.A., and eTitle Insurance Agency,
LLC are hereby enjoined from taking any action to foreclose on the property at issue in this
litigation, including a foreclosure sale. The property at issue has an address of 978 East 11150
South, Sandy, Utah 84094, and a legal description of:
Lot 25, EAGLEWOOD SUBDIVISION, according to the plat thereof as recorded in the
office of the Salt Lake County Recorder.
This ORDER is effective immediately upon the conclusion of the hearing May 6, 2011 at
10:45 a.m. and expires at the conclusion of the evidentiary hearing set on this motion on May 11,
2011 at 9:00 a.m., unless extended for good cause showing or by stipulation from the
Defendants.
Plaintiff is not required to post a bond at this time but may be so required at the hearing
scheduled to take place on May 11, 2011.

To the extent that this Order could be construed as being without notice, the irreparable injury
here is the sale of Plaintiff’s primary residence, which has been found to be irreparable. The
Plaintiff stated at the hearing that he faxed notice of the hearing to all Defendants.

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An evidentiary hearing on the motion for preliminary injunction scheduled on May 11,
2011 at 9:00 a.m. Plaintiff is ORDERED provide notice of this hearing to the named
Defendants.
At the hearing, counsel are to address the legal issues including but not limited to, (1)
whether the property subject to “Tender” in 15 U.S.C. § 16035(b) pertains to tender of the home
which acts as security for the loan or to the principal of the loan, and (2) whether the loan
agreement which is the subject of the above referenced action is exempt from TILA and
therefore does not give rise to a right to rescind.
IT IS SO ORDERED.
DATED this 6th day of May, 2011.
BY THE COURT:

_______________________________
Clark Waddoups
United States District Judge

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