Diller

FACTS AND PROCEDURAL BACKGROUND

In July 2007, Diller obtained a $1,800,000 loan from Washington Mutual Bank, FA (WaMu) to purchase real property located at 4317 Cuna Drive in Santa Barbara. The loan was evidenced by a promissory note and secured by a deed of trust on the property. The deed of trust identifies WaMu as the lender and beneficiary and California Reconveyance Company (CRC) as the trustee. The deed of trust provides that the "Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower." In September 2008, the Federal Deposit Insurance Corporation (FDIC) was appointed as WaMu's receiver. The FDIC and Chase entered into a purchase and assumption agreement whereby Chase purchased WaMu's assets, which included many loans, including Diller's. Diller defaulted on her loan. In March 2011, CRC recorded a notice of default showing arrearages of $27,867.75. When Diller failed to cure the default, CRC recorded a notice of foreclosure sale. On January 21, 2014, the deed of trust was assigned to Chase by Chase as "attorney in fact" for the FDIC as receiver for WaMu. Chase thereafter…