Fenske

BACKGROUND

The background is taken from the evidence submitted in support of, and in opposition to, Wells Fargo’s motion for summary judgment or summary adjudication, along with the reasonable inferences that may be drawn from that evidence, viewed in the light most favorable to Anna. (Aguilar v. Atlantic Richfield Co. (2001) 25 Cal.4th 826, 843 (Aguilar).) The Fenskes applied to Wells Fargo for a residential loan to purchase a house in Grass Valley (the property). They worked with loan officer Jason Boyd to obtain the loan. Boyd told the Fenskes they would get one loan, which would be a “fixed, conventional 30-year” loan. Boyd also represented that after 12 months the Fenskes could refinance their loan. The Fenskes signed a purchase contract for the property and opened escrow with a deposit of $500. Escrow was set to close on November 10, 2006. However, Placer Title Company advised the Fenskes that loan documents had not been received by the closing date. When the Fenskes visited the office of Placer Title Company on November 16, 2006, to sign documents, they were advised that the documents for the Wells Fargo loan had not arrived, but the documents for a second loan were ready…