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- ilnd;;1:11-cv-03213_de44 RegisterActionDate "2012-04-10" @default.
- ilnd;;1:11-cv-03213_de44 RegisterActionDescriptionText "MINUTE entry before Honorable Suzanne B. Conlon: SABR Mortgage Loan 2008-1 REO Subsidiary, LLC (SABR), has shown that it has standing to seek to foreclose defendants mortgage. The court denied SABRs motion for summary judgment because SABR failed to show it had been validly assigned the mortgage from Mortgage Electronic Registration Systems, Inc. (acting as nominee for EquiFirst Corporation) 36 . A rule was issued against SABR to show cause why the case should not be dismissed for lack of standing 36 . SABRs response 37 demonstrates that it is in possession of the note secured by the mortgage. The note endorsement indicates that the note is to be paid to the order of SABR, and is signed by a representative of EquiFirst. Under Illinois law, SABR is the holder of the note. 810 ILCS 5/1-201 (21). In Illinois, the transfer of the debt automatically transfers the mortgage with it, as the mortgage is a mere incident to the debt. Moore v. Lewis, 366 N.E.2d 594, 599 (Ill. App. Ct. 1977). The legal holder of the indebtedness may seek foreclosure. 735 ILCS 5/15-1504(3)(N). Discovery closed on December 16, 2011 25 . The parties shall present their joint modified pretrial order on May 14, 2012; plaintiffs draft shall be submitted to defendants by May 4, 2012. Bench trial is set on June 4, 2012 at 9:00 a.m. Mailed notice (air, ) (Entered: 04/11/2012)" @default.
- ilnd;;1:11-cv-03213_de44 AdministrativeID "44" @default.
- ilnd;;1:11-cv-03213_de44 hasReferenceToOtherEntry ilnd;;1:11-cv-03213_de25 @default.
- ilnd;;1:11-cv-03213_de44 hasReferenceToOtherEntry ilnd;;1:11-cv-03213_de36 @default.
- ilnd;;1:11-cv-03213_de44 hasReferenceToOtherEntry ilnd;;1:11-cv-03213_de37 @default.