Altman

This is an appeal in a class action suit from a superior court judgment dismissing the unnamed class members.

The action was commenced by plaintiffs and appellants Harry and Melanie Altman on behalf of 458 homeowners and trustors under certain deeds of trust. Defendants are Manhattan Savings Bank (Manhattan), respondent, the beneficiary under the deeds of trust, and Bradley Mortgage Company (Bradley), who was appointed by Manhattan to service plaintiffs’ accounts, to collect monthly payments, and to hold certain impound funds in trust for later payment of real property taxes, insurance, and special assessments.

On or about June 10, 1975, each of the homeowners received notices from the Los Angeles County Tax Collector that their second installment of the 1975 property taxes had not been paid. Bradley, without Manhattan’s knowledge, had failed to make the payments. Manhattan first learned of the delinquencies on Monday, June 23, 1975. By Thursday, June 26, 1975, Manhattan had notified the county tax collector by mailgram that it would pay all of the delinquent taxes and by Monday, June 30, 1975, the taxes were in fact paid. The present action was filed on June 25, 1975.…