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STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS PROVIDENCE, SC. (Filed: November 20, 2012) SUPERIOR COURT

CHARLES M. SMITH III MARIA CASIMIRO v. MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC.; COUNTRYWIDE HOME LOANS, INC.; AND FEDERAL NATIONAL MORTGAGE ASSOCIATION

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C.A. No. PC 2011-2549

DECISION RUBINE, J. Before the Court is Defendants, Mortgage Electronic Registration

Systems, Inc. ("MERS"), Countrywide Home Loans, Inc. ("Countrywide"), and Federal National Mortgage Association ("FNMA") (collectively, "Defendants"), Motion to Dismiss the Complaint of Plaintiffs Charles M. Smith III and Maria Casimiro (collectively, "Plaintiffs") pursuant to Rule 12(b)(6) of the Rhode Island Superior Court Rules of Civil Procedure. Through the Complaint, Plaintiffs challenge the validity of FNMAs foreclosure on certain real property located at 249-251 Rochambeau Avenue, Providence, Rhode Island (the "Property") alleging that the assignment of the mortgage interest vesting FNMA with the statutory power of sale is allegedly void rendering the foreclosure sale a nullity. Thus, Plaintiffs claim that title of the Property remains vested in them. Additionally, Plaintiffs allege that the mortgage note is current or has been satisfied.

I FACTS & TRAVEL The facts derived from the Complaint and the exhibits attached to and incorporated therein are as follows: On November 30, 2005, Plaintiffs executed a note ("Note") in favor of lender Countrywide. To secure the Note, Plaintiffs

contemporaneously executed a mortgage ("Mortgage") on the Property. (Compl.

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Rhode Island Law