In May 2018, our firm successfully argued that the statute of limitations is not applicable to federal agents or their assignees. Thus the loan being foreclosed, A Federal Housing Administration Loan which was assigned to the plaintiff, was immune from the statute of limitations. SRMOF II 2012-1 Trust US Bank Trust National Association v. Albert Rivera, etal,, Supreme County, Index 703558/2017 on 5/22/2018.
Once again, a Court agreed that the statute of limitations does not apply to the Federal Housing Administration and its assignees. https://judicialcaselaw.com/courts/nynd/cases/1_18-cv-00402-DJS/12515272531 The US District Court in the Northern District of New York was presented with similar facts as the case above. It was established that the on the record that the mortgage bore an FHA Case Number; that HUD was assigned the mortgage in 2014; and that it had since been assigned multiple times. The case was distinguished from those cases which found the exception did not apply. In Gulnick, the Court found that plaintiff alleged the loan was insured by HUD, but, failed to show that HUD ever held the mortgage. In the present case, there was no dispute that HUD did hold the mortgage. Unless Congress specifically provides otherwise, the federal government is not subject to any statute of limitations in enforcing it rights. Additionally, there is a strong presumption against time barring the governments attempts to enforce its rights.
Thus, it is critical to carefully review the mortgage and chain of assignments when faced with a file which has Statute of Limitations challenges in a mortgage foreclosure matter.
For more information, please contact Deborah Gallo, Director of Operations at [email protected]