Boyce

Facts and Procedural History On December 5, 2006, appellant and his wife signed a $1.155 million promissory note payable to Pacific Mortgage Group (Pacific Mortgage), secured by a deed of trust on their house at 3500 La Entrada Road, Santa Barbara. The note states: "I understand that the Lender may transfer this Note." The same day the note was executed, Pacific Mortgage endorsed the note via an "Allonge to Note" (allonge means an attachment to a negotiable instrument) to Option One Mortgage Corporation (Option One). Option One endorsed the note in blank (the second allonge) and put it in an mortgage investment pool called the Option One Mortgage Loan Trust 2007-2, Asset -Backed Certificates, Series 2007-2 of which Wells Fargo Bank, NA (Wells Fargo) was the trustee. Pacific Mortgage also assigned the deed of trust to Option One. On December 10, 2010, the deed of trust was assigned a second time by Sand Canyon Corporation (formerly known as Option One) to Wells Fargo. Appellant honored his signature on the note and made payments for three and a half years. He stopped making the payments in July 2010. On December 14, 2010, a notice of default was recorded based on a $32,508.04 loan…