Lorenzo Ruiz and Lynette Michelle Ruiz

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
In re 	No. 08-40773 TG
Chapter 13
LORENZO RUIZ, LYNETTE RUIZ, 	R.S. No. KSH 1423
Debtors.
_____________________________/
MEMORANDUM RE MOTION FOR RELIEF FROM STAY
The 	motion 	of 	Mortgage 	Electronic 	Registration 	Systems, 	Inc.
(“MERS”), 	as 	nominee 	for 	Indymac 	Bank, 	F.S.B. 	(“Indymac”), 	its
assignees and its successors, for relief from the automatic stay came
on for hearing before the above-captioned Court on July 25, 2008 at
11:00 	a.m. 	Appearances 	were 	stated 	on 	the 	record. 	The 	Court
announced 	that 	it 	had 	some 	concerns, 	which 	it 	would 	set 	forth 	in
writing, and continued the hearing to August 15, 2008 at 11:00 a.m.
Those concerns are as follows:
The 	Court 	is 	informed 	that 	MERS 	has 	neither 	an 	equitable
interest in the secured claims that form the basis for the motions it
files in bankruptcy court nor any servicing obligations. 	The Court
is 	informed 	that 	MERS 	simply 	provides 	the 	name 	in 	which 	the 	real
Signed: July 25, 2008
________________________________________
LESLIE TCHAIKOVSKY
U.S. Bankruptcy Judge
________________________________________
Entered on Docket
July 28, 2008
GLORIA L. FRANKLIN, CLERK
U.S BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
Case: 08-40773 Doc# 36 Filed: 07/25/08 Entered: 07/28/08 16:06:56 Page 1 of 3

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
2
party 	in 	interest 	acts 	so 	that 	names 	need 	not 	be 	changed 	when 	the
underlying note changes hands.
In the instant case, a copy of the deed of trust is attached but
not a copy of the promissory note. 	The deed of trust identifies the
lender as Paul Financial LLC. (“Paul”), not Indymac. 	The declaration
is signed by an employee of Indymac. 	However, there is no evidence
of an assignment of the note by Paul to Indymac. 	A copy of the note
and 	evidence 	of 	any 	assignments 	must 	be 	provided 	as 	part 	of 	the
record for such motions.
END OF DOCUMENT
Case: 08-40773 Doc# 36 Filed: 07/25/08 Entered: 07/28/08 16:06:56 Page 2 of 3

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
3
COURT SERVICE LIST
Patrick L. Forte
Law Offices of Patrick L. Forte
1 Kaiser Plaza #480
Oakland, CA 94612-3610
Kristin A. Schuler-Hintz
McCarthy & Holthus, LLP
1770 Fourth Ave.
San Diego, CA 92101
Case: 08-40773 Doc# 36 Filed: 07/25/08 Entered: 07/28/08 16:06:56 Page 3 of 3