In 2003, Chae Yi You and Chur K. Bak purchased a home in Suwanee, Georgia. They financed the purchase by obtaining a loan from Excel Home Loans, Inc., executing both a promissory note and a deed to secure debt in Excel’s favor. The security deed granted Excel and its successors and assigns the power to sell the property in the event of You and Bak’s default. Excel transferred the note to an unidentified third party and assigned the deed to Chase Manhattan Mortgage Corporation, which was subsequently succeeded by JPMorgan Chase Bank. You and Bak defaulted on their loan, and in June 2011, Chase initiated nonjudicial foreclosure proceedings. The property was sold at a foreclosure auction in August 2011. Chase was the highest bidder and executed a deed conveying to itself all of You and Bak’s interest in the property. Chase then quitclaimed the property to the Federal National Mortgage Association, which sought to remove You and Bak from the property. In November 2011, You and Bak filed suit in Georgia state court claiming wrongful foreclosure. The suit was removed to federal court. The federal district court certified the following questions to the Georgia Supreme Court: (1) Can the holder of a security deed be considered a secured creditor able to initiate foreclosure proceedings if it does not also hold the note or otherwise have any beneficial interest in the debt obligation underlying the deed; and (2) Does Georgia law require that the secured creditor be identified in the notice described by that statute? How should the Georgia court respond to these questions?

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