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Mercedes De Los Santos, et al. v. World Capital

November 15, 2011

MERCEDES DE LOS SANTOS, ET AL.
v.
WORLD CAPITAL FINANCIAL, ET AL.



The opinion of the court was delivered by: The Honorable Christina A. Snyder, U.S. District Judge

CIVIL MINUTES - GENERAL

Title

Present: The Honorable CHRISTINA A. SNYDER, U.S. DISTRICT JUDGE

RITA SANCHEZ N/A N/A

Deputy Clerk Court Reporter / Recorder Tape No.

Attorneys Present for Plaintiffs: Attorneys Present for Defendants:

N/A N/A

Proceedings: (In Chambers:) DEFENDANT'S MOTION TO DISMISS (filed

7/22/2011)

INTRODUCTION & BACKGROUND

On March 20, 2008, plaintiffs Mercedes de Los Santos ("Santos"), Jesus Lomeli and Rosario Lomeli (collectively the "Lomelis") filed a complaint in the Los Angeles County Superior Court against World Capital Financial ("WCF"); WMC Mortgage Corp. ("WMC"); Countywide Home Loans ("Countywide"); Option One Mortgage ("Option One"); F.C.I.; Rebeka Racibi ("Racibi"); Escrow Land, Inc. ("Escrow Land"); California Financial Group ("CFG"); West Escrow, Inc. ("West Escrow"); Pablo Villalta ("Villalta"); Hector Lopez ("Lopez"); and Does 1--20.

Because the original complaint asserted violations of the Truth in Lending Act ("TILA"), 15 U.S.C. § 1635, et seq., defendants removed to this Court on July 23, 2008 based on federal question jurisdiction.

On December 20, 2010, plaintiffs filed their Fourth Amended Complaint ("FAC") against WCF; Global Financial Funding ("Global Financial"); Countrywide; Citibank; Bank of America ("BOA"); F.C.I.; Racibi; Pacific Bank Corp. ("PBC"); CFG; Villalta; Lopez; and DOES 1--20. The FAC alleges or seeks: (1) violation of the Unfair Competition Law ("UCL"), California Business and Professions Code § 17200 et seq.; (2) predatory lending; (3) breach of fiduciary duty; (4) negligence; (5) quiet title; (6) wrongful foreclosure; (7) to set aside trustees sale; (8) cancellation of trustee's deed; (9) violation of California Civil Code § 2923.5(a); and (10) violation of California Civil Code § 2923.6.

The crux of plaintiffs' claims is that defendants target "unsophisticated, non-native English-language challenged Hispanic homeowners" to generate business. FAC ΒΆ 12. The defendants allegedly defraud these consumers by providing unfair mortgage loan terms without ...


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