Stone v. BankUnited
115 So. 3d 411
| Fla. Dist. Ct. App. | 2013Background
- BankUnited filed a foreclosure complaint on April 16, 2010 to collect $248,569.76 secured by Stone's homestead in Sarasota, Florida.
- Complaint attached a mortgage and promissory note naming BankUnited, FSB as the original lender.
- On September 17, 2010, BankUnited filed the original note and mortgage; an allonge with a blank endorsement appeared, stating it is a permanent part of the Note.
- Stone answered and defended that BankUnited lacked standing to foreclose; trial was nonjury and resulted in judgment for BankUnited.
- The parties discussed standing requirements: a plaintiff must prove it owns or holds the note and mortgage; ownership can be proven by valid assignment, proof of purchase, or evidence of transfer.
- BankUnited presented testimony from Patricia Fallman showing it acquired the note and mortgage via FDIC receivership and a purchase-assumption agreement, and that it services the loan.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Did BankUnited have standing to foreclose at filing? | Stone argues BankUnited lacked ownership at inception due to the allonge blank endorsement. | BankUnited contends it obtained ownership through receivership purchase and services the loan, establishing standing. | BankUnited had standing to foreclose. |
| Does the blank-endorsed allonge cure standing despite McLean's dating issue? | Stone relies on McLean to claim lack of dating/detention of endorsement undermines standing. | Fallman’s testimony shows ownership via purchase; the allonge is valid in light of ownership. | Evidence supported standing; allonge issue rejected. |
Key Cases Cited
- Mazine v. M & I Bank, 67 So.3d 1129 (Fla. 1st DCA 2011) (standing may be proven by ownership or possession with rights)
- Servedio v. U.S. Bank Nat’l Ass’n, 46 So.3d 1105 (Fla. 4th DCA 2010) (procedural framework for standing evidence)
- BAC Funding Consortium Inc. ISAOA/ATIMA v. Jean-Jacques, 28 So.3d 936 (Fla. 2d DCA 2010) (proof of debt ownership or transfer establishes standing)
- McLean v. JP Morgan Chase Nat’l Ass’n, 79 So.3d 170 (Fla. 4th DCA 2012) (endorsement timing relevant to standing when sued)
- Taylor v. Richards, 971 So.2d 127 (Fla. 4th DCA 2007) (trial court factual findings on foreclosure standing receive deference)