New Mexico Supreme Court
Bank of New York as Trustee for Popular Financial Services Mortgage/pass Through Certificate Series #2006…
February 13, 20145 N.M. 529
Summary
The New Mexico Supreme Court reversed the Court of Appeals and district court, holding that the Bank of New York lacked standing to foreclose on the Romeros’ home, that a borrower’s ability to repay must be considered in the Home Loan Protection Act’s net‑benefit analysis, and that the HLPA is not preempted by federal law. The Court remanded with instructions to vacate the foreclosure judgment and dismiss the action.