WELLS FARGO BANK, N.A. VS. SANDRA A. FORD A-3627-06T1 01-28-11
To establish standing to foreclose upon a mortgage, a party must demonstrate by competent evidence that it owns or controls
the underlying debt secured by the mortgage. The right to enforcement of a debt evidenced by a negotiable instrument governed by the UCC. The determination whether a "holder" negotiable instrument is a "holder in due course," who can defenses that would be available in an action by the original payee, depends on that party's knowledge of those defenses at the time of indorsement of the note.
