Burr Alert: Georgia District Court Offers New Authority on Issue of "Full Authority" Under O.C.G.A. § 44-14-162.2

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In the latest chapter of the Georgia courts' attempts to interpret Georgia's foreclosure notice statute, O.C.G.A § 44-14-162.2, the U.S. District Court for the Northern District of Georgia issued an opinion on February 25, 2014 granting the plaintiffs' motion for leave to file an amended complaint to assert that the foreclosure notice that they received was deficient because it did not include "the name, address and telephone number of the individual or entity who shall have the full authority to negotiate, amend, and modify all terms of the mortgage." Chae Yi You and Chur K. Bak v. JP Morgan Chase Bank, N.A. and Federal National Mortgage Association, No. 1:12-CV-202-JEC-AJB, slip op. (N.D. Ga. February 25, 2014). Specifically, the Court found that the plaintiffs' amended complaint stated a plausible claim for relief for wrongful foreclosure by alleging that the foreclosure notice was invalid because, although the foreclosure notice identified the servicer of plaintiffs' loan, it failed to identify Federal National Mortgage Association ("Fannie Mae"), who plaintiffs alleged was the entity with the "full authority to negotiate, amend, and modify" the plaintiffs' loan by virtue of its servicing guidelines. You at 6.

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