Monroy

BACKGROUND

Monroy is Spanish speaking and works as a housekeeper. On November 26, 2006, she purchased the Richmond property for $425,000. Monroy executed two promissory notes with WMC. She obtained a senior mortgage loan for $340,000 and a junior mortgage loan for $85,000 (the note, the second note, or the promissory note). Both promissory notes were secured by a deed of trust on the property. The beneficiary of each deed of trust was Mortgage Electronic Servicing Corporation.

2 Both the first and second promissory notes provided in the first paragraph the following: ―I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note will be called the ‗Note holder.‘ ‖ Monroy signed a form stating that the information in the loan application was true and correct and acknowledged that ―any intentional or negligent misrepresentation of this information . . . may result in civil liability, including monetary damages.‖ On her loan application, Monroy claimed to make $9,200 per month as the owner of Maribel‘s Cleaning Services. Monroy signed a certification that she did not have a family or…