The Supreme Judicial Court, which last year blasted lenders with shoddy paperwork, ruled today lenders who did not hold all the paperwork on mortgages could still foreclose - but will have to be more careful in the future.
The case involves a Roslindale woman who had a promissory note with one lender, but whose actual mortgage the original lender had sold to a company specializing in mortgage servicing. That company moved to foreclose when she missed payments.
A lower-court judge had ruled the mortgage-servicing company had no right to foreclose because it didn't also hold the promissory note, but the state's highest court ruled today that an ambiguous state law authorized agents - such as servicing companies - the right to seek eviction.
The ruling means the servicing company can now seek to prove to the lower court that it had authorization.
Richard Vetstein, a real-estate lawyer, calls the decision a big victory for the lending industry.