Green v. Residential Acceptance Corporation

CourtDistrict Court, M.D. Louisiana
DecidedFebruary 25, 2025
Docket3:24-cv-00341
StatusUnknown

This text of Green v. Residential Acceptance Corporation (Green v. Residential Acceptance Corporation) is published on Counsel Stack Legal Research, covering District Court, M.D. Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Green v. Residential Acceptance Corporation, (M.D. La. 2025).

Opinion

UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF LOUISIANA MARCIA MICHELLE GREEN CIVIL ACTION

VERSUS NO. 24-341-JWD-SDJ

RESIDENTIAL ACCEPTANCE CORP., ET AL.

NOTICE Please take notice that the attached Magistrate Judge’s Report has been filed with the Clerk of the U.S. District Court.

In accordance with 28 U.S.C. § 636(b)(1), you have 14 days after being served with the attached report to file written objections to the proposed findings of fact, conclusions of law, and recommendations set forth therein. Failure to file written objections to the proposed findings, conclusions, and recommendations within 14 days after being served will bar you, except upon grounds of plain error, from attacking on appeal the unobjected-to proposed factual findings and legal conclusions accepted by the District Court.

ABSOLUTELY NO EXTENSION OF TIME SHALL BE GRANTED TO FILE WRITTEN OBJECTIONS TO THE MAGISTRATE JUDGE’S REPORT.

Signed in Baton Rouge, Louisiana, on February 19, 2025.

S

SCOTT D. JOHNSON UNITED STATES MAGISTRATE JUDGE UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF LOUISIANA MARCIA MICHELLE GREEN CIVIL ACTION

MAGISTRATE’S REPORT AND RECOMMENDATION Before the Court are four motions to dismiss Plaintiff’s claims asserted in her Amended Complaint (R. Doc. 30), filed by each of the four Defendants: Village Capital & Investments (R. Doc. 37), Residential Acceptance Corporation (R. Doc. 38), Midland Mortgage (R. Doc. 39), and DHI Title Louisiana (R. Doc. 41). I. PLAINTIFF’S AMENDED COMPLAINT Plaintiff initiated this action on May 1, 2024, representing herself. (R. Doc. 1). After all Defendants had filed motions to dismiss (R. Docs. 16, 17, 21, 22), Plaintiff filed an Amended Complaint on July 8, 2024, which is now the operative complaint. (R. Doc. 30). The original motions to dismiss were denied without prejudice. (R. Doc. 31). The renewed Motions to Dismiss respond to the Amended Complaint and are the subject of this report. In her Amended Complaint, Plaintiff asserts federal jurisdiction by way of federal question

per 28 U.S.C. § 1331, citing claims under the Truth in Lending Act (15 U.S.C. § 1601), Fair Credit Reporting Act (15 U.S.C. § 1681), Fair Debt Collection Practices Act (15 U.S.C. § 1692), and Extortionate Credit Transactions (18 U.S.C. § 892, et seq.). (R. Doc. 30 at 2). Plaintiff further cites misrepresentation and breach of contract. (R. Doc. 30 at 2). A. Plaintiff’s Statement of Facts On August 18, 2023, Plaintiff entered into contract with Residential Acceptance Corporation at DHI Title, including a promissory note and mortgage agreement. (R. Doc. 30 at 5). Plaintiff asserts that the contract is unenforceable, having lacked (1) awareness/meeting of the minds, (2) consideration, and (3) legality. (R. Doc. 30 at 6).

First, Plaintiff was “unaware… that the bank was not lending her any money”. (R. Doc. 30 at 6). Further, Plaintiff asserts that “RAC was misrepresented as a bank loaning money which was done for purposes of deception, fraud, confusing and therefore harming the Plaintiff.” (R. Doc. 30 at 5). Plaintiff argues that this lack of clarity meant there was no true agreement on the terms and subject of the contract. (R. Doc. 30 at 6). Next, Plaintiff asserts that “[b]anks were never granted the power or given authority by Congress to lend money” and thus RAC was unable to provide Plaintiff value for consideration. (R. Doc. 30 at 5, 6). Finally, Plaintiff asserts that this alleged lack of lending authority renders the loan contract illegal. (R. Doc. 30 at 6-7). Plaintiff alleges that she believed the promissory note executed at the time of the mortgage

contract was merely a “promise to pay” in the future, but that instead the promissory note “was accepted as payment in full”. (R. Doc. 30 at 8). “The Plaintiff did not authorize or give the bank permission to receive $335,623 cash value, per her promissory note, and use it to fund the bank loan check back to her being required to pay the money back + interest, nor is that what she was given disclosure this would take place prior to her signing the contract.” (R. Doc. 30 at 8). As the Court understands, Plaintiff was under the impression that the home loan would be a direct loan of cash to Plaintiff, who would then use that money to pay for her house, rather than a bank paying for the house and receiving mortgage payments from Plaintiff.1 Plaintiff further claims that the security clause of the mortgage contract means that Plaintiff has no obligation to pay on the contract. (R. Doc. 30 at 10). She argues that she was fraudulently induced to give up her security interest in the property on the misrepresentation that the bank could

loan money. (R. Doc. 30 at 10). Plaintiff asserts that after obtaining the security interest, RAC sold that interest to Village Capital & Investments without Plaintiff’s knowledge. (R. Doc. 30 at 10). Plaintiff claims that RAC extended Plaintiff an extortionate line of credit, evidenced by the mortgage contract itself and by notices from RAC to Plaintiff in September 2023, notifying Plaintiff of the amount due and where to remit payment, and later notifying Plaintiff of her overdue payment. (R. Doc. 30 at 11). Plaintiff responded to a notice of default with a demand for relief and settlement offer, “citing RAC’s numerous violations including [Truth in Lending Act] and [Fair Debt Collection Practices Act]”. (R. Doc. 30 at 12). Plaintiff requested numerous documents, including documents proving RAC’s right to collect debt on the contract. (R. Doc. 30 at 12-13).

Plaintiff received copies of her closing documents, which she deemed unsatisfactory. (R. Doc. 30 at 13). Plaintiff later received debt collection notices from Village Capital & Investments, whereupon Plaintiff again requested information regarding VCI’s right to collect on the debt. (R. Doc. 30 at 13). VCI responded with copies of the same closing documents, including an addendum transferring the mortgage to VCI. (R. Doc. 30 at 13). Plaintiff alleges that this is further evidence

1 See Plaintiff’s Original Complaint: “The [] contract read as follows, ‘In return for the loan that I received…’. Yet, there were no details of the transmittance of this money, no amount nor method that it would be received by the Plaintiff.” (R. Doc. 1 at 4). “At closing the Plaintiff inquired with the closing agent of where the loan was and was told that the Plaintiff had received it/the money would be wired. … Plaintiff never saw nor signed a check with The Plaintiff’s name on it.” (R. Doc. 1 at 4). “RAC, nor DHI Title ever disclosed to the Plaintiff that payment was made in full for the house when the promissory note was signed….” (R. Doc. 1 at 4). of extortion and fraud, and that Defendants were attempting to collect a debt that had been paid. (R. Doc. 30 at 13). Finally, Plaintiff began to receive debt collection notices from Midland Mortgage, whom she sent a request to validate the debt. (R. Doc. 30 at 14). A representative of Midland informed Plaintiff that VCI had sold its mortgage servicing rights to Midland. (R. Doc. 30 at 14). Another

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Bluebook (online)
Green v. Residential Acceptance Corporation, Counsel Stack Legal Research, https://law.counselstack.com/opinion/green-v-residential-acceptance-corporation-lamd-2025.