A plaintiff must allege that it is in possession of the underlying Note in order to establish that it has standing to prosecute the action. In Wells Fargo Bank, N.A. v.Creating a lost note affidavit is an essential process for protecting the legal rights of all involved in a promissory note transaction. Recover lost promissory notes with ease. Awful lot of socalled lost note affidavits being filed, saying that the purported owner of the note had the note and somehow lost it, ''the. If a lender produces a lost note affidavit in lieu of an original note or copy thereof then borrowers may attack the lost note affidavit's validity instead. For example, current rules state that a VITA site is allowed to prepare Form. "fill in the gaps of missing information relating to his case. The County Clerk's Office will not record a copy. Recordings are completed immediately once received in the County Clerk's Office.