Welker

FACTS

Welker’s lengthy second amended complaint (SAC) can be distilled into a few short facts. Welker owns and lives in property located in Rancho Mirage, California. Welker financed the acquisition with an adjustable rate promissory note and deed of trust that names defendant Hyperion Capital Group LLC, as the lender. The deed of trust names MERS as the beneficiary. The promissory note Welker executed was transferred by defendant EMC Mortgage Company to a trust that pooled and securitized the note along with other notes. 1 Welker apparently defaulted on his loan. In May 2010 defendant NDEx West LLC, prepared and recorded a notice of default with respect to Welker’s promissory note and deed of trust. Welker did not know of any recorded document or chain of title indicating anyone other than Hyperion Capital Group as the lender. In July 2010, MERS, as nominee for Hyperion Capital Group, assigned the deed of trust to defendant Wells

1 Welker does not admit this in so many words, but neither does he deny it. What he does say is, “Defendants would also falsely assure Plaintiff that his loan would be modified and induced him to stop making payments so that he could obtain a…