Wells Fargo Bank moved for summary judgment and appointment of a referee to compute. Defendants cross-moved for dismissal of the complaint in this foreclosure mortgage action alleging lack of standing. The court stated an electronic note signed electronically by the mortgagor was a "transferable record," noting a person having control of a transferable record was the holder. An affidavit from Wilson, Vice President Loan Documentation for plaintiff, stated plaintiff was in possession of the promissory note, an electronic note, and was the current controller. Yet, the court found Wilson did not expressly state she examined the note holder registry or identify the source from which she determined plaintiff was controller of the electronic note. It ruled in the absence of factual details as to the transfer of the electronic note to plaintiff, including the transfer date, it could not be established that plaintiff controlled the electronic note on the date this action was commenced. Hence, plaintiff failed to establish standing as part of its prima facie case, and its motion was denied. Also, as defendant failed to submit sufficient proof plaintiff was not the holder of the electronic note at the time the action was commenced, the cross-motion to dismiss was denied.
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