Wells Fargo takes possession of apartment complex in mortgage foreclosure action and obtains summary judgment dismissing borrower's counterclaims

Client(s) Wells Fargo Bank, National Association and Deutsche Bank AG, New York Branch

Jones Day successfully represented Wells Fargo Bank, National Association and German American Capital Corporation, a Deutsche Bank AG, New York company, the assignee of the mortgage from Wells Fargo Bank, National Association in a mortgage foreclosure action relating to an apartment complex in Pittsburgh, Pennsylvania. The Highlands of Montour Run, LLC, the borrower, voluntarily granted possession to Wells Fargo after filing a complaint for confession of judgment in ejectment and obtained a writ of possession. In addition, Wells Fargo filed a summary judgment motion arguing that Highlands counterclaims must be dismissed because the counterclaims did not arise at the creation of the mortgage. The court granted Wells Fargo's summary judgment motion dismissing the counterclaims.

German American Capital Corporation and Wells Fargo Bank, N.A. v. The Highlands of Montour Run, LLC, G.D. No. 10-009637 and 10-009459 (Allegheny County (Pa.) Common Pleas Court)