Sipe

Sipe v. Countrywide Bank

Good Law

690 F. Supp. 2d 1141·2010 WL 596322·2010 U.S. Dist. LEXIS 12951

United States District Court, Eastern District of CaliforniaFebruary 16, 20102:09-cv-00798California9,069 words

Opinion

Wanger, J.

MEMORANDUM DECISION AND ORDER RE: (1) DEFENDANT SIERRA PACIFIC MORTGAGE COMPANY INC.’S MOTION TO DISMISS; and (2) DEFENDANTS COUNTRYWIDE BANK AND MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC.’S MOTION TO DISMISS

I. INTRODUCTION

Before the court are two motions to dismiss. One motion is brought by Defendant Sierra Pacific Mortgage Company Inc. (“Sierra Pacific”) and another is brought collectively by Defendants Countrywide Bank (“Countrywide”) and Mortgage Electronic Registration Systems, Inc. (“MERS”). The motions are directed at the claims asserted by Plaintiff Vincent Sipe (“Plaintiff’) in his First Amended Complaint (“FAC” or “complaint”). The following background facts are taken from the FAC and other documents on file in this case.

II. BACKGROUND

A. General Background

This is a mortgage fraud case concerning Plaintiffs residential property located in Coarsegold, California. On or about May 2006, Defendant Carol Desilva, a loan officer for Defendant Financial Advantage Inc., approached Plaintiff about a refinance loan on his residence. Desilva “advised” Plaintiff that she could get the “best deal” and the “best interest rates” on the market. Plaintiff applied for the…

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