Bank of New York v. Medway Lumber & Home Supply, Inc.

Connor, John P., J.

INTRODUCTION

This is an action by plaintiff Bank of New York, as Trustee for the Certificate Holders of CWALT, Inc., Asset-Backed Certificates, Series 2007-02CB (“BNY”), the assignee and current holder of a note originated by Quicken Loans, Inc. (“Quicken”) and secured by a mortgage on property located at 57 North Avenue, Mendon, Massachusetts (the “Property”). BNY claims that its mortgage has priority over a competing lien held by the defendants, Medway Lumber & Home Supply, Inc. (“Medway Lumber”), based on the doctrines of equitable estoppel and equitable subrogation.3 The…