MD Court of Special Appeals rules on the Note Holder's right to foreclose.

These insidious claims are all over the Internet - the lender can't foreclose on a property if they can't show that the debt instrument, the note, actually belongs to them (there has been a valid assignment/endorsement of the note). And if the lender/servicer can't prove that the note belongs to them, you can live in your house for FREE, forever!

Thus, according to internet lore, Lender A can't foreclose, even when they are in possession of the note, if the note is made to Lender B, and it is not endorsed to Lender A.

Think of a check that you write to Recipient A. If Recipient A gives or sells the check to Recipient B, and fails to endorse the check to Recipient B, Recipient B will not be able to cash it.

To add a bit more murkiness to this issue, there are buyouts, MERS, securitization, etc.

We always ask lenders to provide something that shows that they indeed own the note when we file to stay/dismiss foreclosure sales.  More often than not, lenders comply with these requests.  Are lenders required to provide this information under the Maryland law?  Not anymore.  

A "person in possession" of a note has the right of a holder of the note, including the right to appoint a substitute trustee to the deed of trust securing the note and the right to proceed to foreclose under that deed of trust.  Anderson v. Burson