and issued a narrow holding that, post-foreclosure, borrowers have standing to assert wrongful foreclosure based on allegations that an underlying assignment is void.
The closing date for the securitized trust was in January 2007.
In August 2012, Western Progressive LLC recorded (1) a substitution of the trustee, substituting itself for Deutsche Bank, and (2) a notice of the trustee’s sale.
On September 14, 2012, the property was sold at a public auction by Western Progressive LLC to a third-party.
Yvanova alleged the December 2011 Assignment of the Deed of Trust from New Century to Deutsche Bank was void because: (1) New Century lacked the authority to transfer the Deed of Trust in 2011, because its assets were transferred to the bankruptcy trustee in 2008, and (2) the investment trust was closed in 2007.
The superior court sustained the defendants’ demurrer without leave to amend.
The Court of Appeal affirmed the judgment, concluding that Yvanova could not state a claim for quiet title, because Yvanova had not alleged the tender of the amount due.