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Kan.v. Guild Mortgage Co.

California Court of Appeals, Second District, Second Division

September 25, 2014

LINDSAY T. KAN, as Trustee, etc., Plaintiff and Appellant,
v.
GUILD MORTGAGE COMPANY, Defendant and Respondent THE BANK OF NEW YORK MELLON, as Trustee, etc., et al., Interveners and Respondents.

[As modified Sept. 25, 2014.]

APPEAL from a judgment of the Superior Court of Los Angeles County, No. PC053905 Michael Mink, Judge.

Page 737

[Copyrighted Material Omitted]

Page 738

COUNSEL

Paul Kujawsky for Plaintiff and Appellant.

No appearance for Defendant and Respondent.

Severson & Werson, Jan T. Chilton and Kerry W. Franich for Interveners and Respondents.

OPINION

BOREN, P.J.

Appellant’s real property loan is in default. Appellant seeks to quiet title and avoid foreclosure by alleging that the deed of trust on the property was improperly securitized and that the beneficiary lacks authority to foreclose. Because California’s nonjudicial foreclosure statutes provide no basis for appellant’s claim, we find that the trial court properly sustained the demurrer to appellant’s complaint without leave to amend.

Page 739

BACKGROUND

In July 2007, Lindsay T. Kan executed a first note for $516, 000, secured by a deed of trust on real property in Stevenson Ranch (the property). The same day, he executed a second note in the amount of $64,500, also secured by a deed of trust on the property. Both trust deeds named Guild Mortgage Company as the lender, Guild Administration Corp. as the trustee, and Mortgage Electronic Registration Systems, Inc. (MERS) as the beneficiary acting as nominee for the lender, its successors, and assigns.

More than two years later—based on what is characterized in appellant’s opening brief as “spectacularly unsound and specious advice”—Kan recorded two instruments that purported to “modify” the deeds of trust to “correctly reflect” an indebtedness of zero dollars. The instruments stated the deeds of trust were “modified to eliminate any further payments, [and] to reflect a status of ‘paid as agreed.’” Shortly afterward, PCYA Trust, of which Kan is the trustee, recorded two documents labeled “full reconveyance, ...


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