Serafin

Introduction

In this lawsuit plaintiff Denise S. Serafín (Serafín) alleges that defendant First Interstate Bank of California (Bank) violated the duties imposed upon it by statute when a homeowner pays off an obligation evidenced by a deed of trust. In particular, she claims that Bank, in its capacity as beneficiary of the deed of trust, violated its duty to deliver the reconveyance documents to the trustee when the loan was paid off and that Bank, in its capacity as trustee of the deed of trust, violated its duty to record the reconveyance. The trial court granted summary judgment to Bank. We affirm.

Factual and Procedural Background

In April 1993, Serafín obtained a $5,700 line of credit from Bank secured by a deed of trust on her home in Fullerton, California. Pursuant to the trust deed, Serafín was the trustor and, as is often the practice with institutional lenders, Bank, through different departments, fulfilled two capacities: beneficiary and trustee.

On September 3, 1993, Bank received a request for a demand in regard to paying off Serafín’s obligation. This request, however, was destroyed prior to the commencement of this lawsuit pursuant to Bank’s standard…