As attorneys representing the financial services industry well know, the financial crisis of 2007-2008 resulted in a wave of foreclosures across the country as borrowers struggled to make payments on their mortgages. The sudden increase in the volume of foreclosures required courts in many states to address an issue that had not been fully resolved or explained in more prosperous periods: How do you determine whether a lender has standing to pursue the foreclosure? However, during litigation over whether the party claiming a right to foreclose was the proper party, litigants rarely questioned whether the foreclosure was brought against the right borrower.
