SUMTER COUNTY — The 5th District Court of Appeal recently ruled in favor of Fannie Mae in a foreclosure case involving Black Point Assets Inc.

Fannie Mae had filed a foreclosure against Mary S. Cehi, who was the original homeowner. The note was made out to Countrywide Bank FSB, and Fannie Mae’s complaint included assignments from Countrywide and Bank of America. Fannie Mae accused Cehi of defaulting on her loan on Aug. 1, 2013, and that she owed $121,650.33 at that time. Black Point bought the property in January 2014 for $2,000 in a private sale after Cehi filed for Chapter 7 bankruptcy. 

The trustee who handled the bankruptcy noted the property was sold “As is, Where is” along with a notice of the $121,650.33 lien, according to court documents.

Black Point motioned for the foreclosure case to be dismissed because it alleged Fannie Mae did not prove it had a "superior" interest in the property to Black Point’s interest, as a portion of the foreclosure complaint did not name Black Point under “inferior interests.”

The lower court dismissed Black Point’s motion and granted Fannie Mae’s motion to “strike Black Point’s affirmative defenses” as well as its opposition to summary judgment. Fannie Mae also submitted an amended motion for summary judgment and asked the lower court to consider the trustee selling the property “As is, Where is.” Black Point attended the hearing but didn’t respond, according to court records. The court sided with Fannie Mae on this motion, as well. 

Black Point filed an appeal saying the trial court should not have tossed out its request to dismiss the foreclosure complaint. The appeals court ruled Fannie Mae had all of the elements needed for a foreclosure complaint: “an agreement, a default, an acceleration of the amount due, and the amount due.” It noted that Black Point did not support its claim that Fannie Mae needed to indicate the “superiority of its interest.”

Black Point also said in its appeal that Fannie Mae’s evidence in its motion for summary judgment indicated Black Point “took its interest in the property subject to, and with notice of, Fannie Mae’s interest” was not enough for a summary judgment. The appeals court dismissed this claim, ruling Black Point could not prove it was addressed in court. Black Point said a “transcript of summary judgement” isn’t needed during its appeal. But the court said considering Black Point’s affirmative defenses were struck down in the lower court, there is no indication or evidence that Black Point questioned Fannie Mae’s evidence in its summary judgment.

The court also said Black Point’s argument in the appeal did not have any creditability. Considering this, the appeals court affirmed the lower court’s decision.

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Fifth District Court of Appeal
300 South Beach Street
Daytona Beach, FL - 32114

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