AI Generated Opinion Summaries

This summary was computer-generated without any editorial revision. It is not official, has not been checked for accuracy, and is NOT citable.

Facts

• The case involves the Federal National Mortgage Association (Fannie Mae) seeking foreclosure against Steven J. Chavez. The dispute centers on the foreclosure judgment and order for foreclosure sale issued by the district court. The contention arises from the indorsement of the note and assignments of the mortgage, specifically whether they were properly executed and recorded in accordance with New Mexico statutes.

Procedural History

• District Court of Bernalillo County, Alan M. Malott, District Judge: Issued a foreclosure judgment and order for foreclosure sale in favor of the Federal National Mortgage Association against Steven J. Chavez.

Parties' Submissions

• Appellant (Steven J. Chavez): Argued that the district court erred by finding NMSA 1978, Section 47-1-7 inapplicable to the note indorsement and assignments of mortgage as they did not involve a conveyance of real property. Contended that Fannie Mae improperly sought enforcement of the mortgage through a transfer that ignored NMSA 1978, Sections 47-1-4 and 47-1-7, and that the note was not properly indorsed and MERS did not have authority to assign the mortgage or record the assignment of mortgage (paras 3, 5-6).
• Appellee (Federal National Mortgage Association): [Not applicable or not found]

Legal Issues

• Whether the district court erred by finding NMSA 1978, Section 47-1-7 inapplicable to the note indorsement and assignments of mortgage as they did not involve a conveyance of real property.
• Whether Fannie Mae improperly sought enforcement of the mortgage through a transfer that ignored NMSA 1978, Sections 47-1-4 and 47-1-7.
• Whether the note was properly indorsed and whether MERS had the authority to assign the mortgage or record the assignment of mortgage.

Disposition

• The Court of Appeals affirmed the district court’s foreclosure judgment and order for foreclosure sale in favor of the Federal National Mortgage Association against Steven J. Chavez.

Reasons

• Per LINDA M. VANZI, Judge (JULIE J. VARGAS, Judge, KRISTINA BOGARDUS, Judge concurring):
  The Court found that the appellant abandoned issues a and b by not responding to them in his memorandum in opposition (para 2).
  The Court agreed with the appellant that Section 47-1-7 could apply to other writings that affect real estate in law or equity but clarified that the statute was inapplicable to the note indorsements as they do not convey or affect real estate in law or equity. Instead, a note is a negotiable instrument (paras 4-6).
  The Court reviewed the record and found that the mortgage and its assignments were acknowledged, certified, filed, and recorded as required by Section 47-1-7, thus affirming the district court’s determination that the mortgage was properly assigned (para 7).
  The Court declined to address undeveloped arguments regarding the standing of the plaintiff to pursue the action and the authority of MERS as nominee to assign the mortgage on behalf of the lender, noting that these issues have been addressed in previous cases (paras 8-9).