Cody

FACTS AND HISTORY OF THE PROCEEDINGS

Cody financed a property with a mortgage loan in March 2008. Cody signed both a deed of trust (DOT) and a note promising to timely pay the principal sum plus interest to the lender (collectively the Loan). The Loan was originally serviced by Bank of America, N.A., though it was assigned to Nationstar in 2012 via a “Corporate Assignment of Deed of Trust” (ADOT). Cody stopped making Loan payments in March 2012. Nationstar sent Cody “formal notice” of default of the Loan (NOD), and when no payments were received, the Loan was referred for foreclosure proceedings in September 2012. The NOD was recorded in 2023. Shortly thereafter, Cody sued Nationstar alleging unfair business practices under the Rosenthal Act. According to Cody, the NOD was “time-barred” because the statute of limitations for enforcement of the DOT had expired by the time the NOD was recorded in 2023. Cody requested cancellation of the NOD. Cody also requested cancellation of the ADOT and claimed it was void because it was defectively signed by an “attorney in fact” for Bank of America. Cody subsequently filed a motion for summary judgment. The trial court denied the motion…