Ikeoka

I. INTRODUCTION

Appellant Cindy Ikeoka obtained a loan from Chevy Chase Bank, F.S.B. (Chevy Chase Bank) in the amount of $1,470,000. The loan transaction included an adjustable rate rider and a deed of trust securing the loan on real property in Carmel. After Chevy Chase Bank increased the minimum monthly payment on the loan, Ikeoka had difficulty making the loan payments and foreclosure proceedings were initiated. Ikeoka responded by filing the instant action against respondents U.S. Bank, N.A., (U.S. Bank), Mortgage Electronic Registration Systems, Inc. (MERS), and Quality Loan Service Corp. (Quality Loan) in which she alleges that defendants violated the terms of the adjustable rate note by raising the amount of her minimum monthly payment prematurely. Ikeoka also alleges that defendants do not have the legal authority to foreclose. The trial court sustained defendants’ demurrers to all causes of action included in the complaint without leave to amend and entered a judgment of dismissal. For the reasons stated below, we conclude that the trial court did not err and that Ikeoka has not shown on appeal that the complaint may be amended to state a cause of action. We will…