Williams v. Bear Stears Residential Mortgage CA4/2

INTRODUCTION

Plaintiff and appellant Marian C. Williams is a property owner who has defaulted 1 on a real estate loan. She appeals from a judgment of dismissal, entered after the court

sustained defendants’ demurrer without leave to amend.1 On appeal, Williams claims she

has standing to challenge flaws in the securitization of the mortgage loan and she was not

required to tender the balance due to preserve her suit.

Defendants counter that Williams lacks standing to challenge the process for

securitizing mortgages; she cannot show prejudice; she failed to make the required

tender; and she is barred from using preemptive judicial action. Defendants assert several

other dispositive defenses and argue Williams cannot demonstrate an abuse of discretion.

We agree with defendants’ positions and affirm the judgment.

II

FACTUAL AND PROCEDURAL BACKGROUND

We base our summary of the facts on the complaint and the attached exhibits.

Williams, an Arizona resident, owns real property located in Moreno Valley at 11396

Greyson Road. Williams is the borrower on a $456,000 note, secured by a trust deed

which was executed and recorded in May 2006. Bear Stearns was the lender;…