Yhudai
Yhudai v. Impac Funding Corp.
Opinion
Opinion
Rothschild, J.
Appellant Moshe Yhudai sued his lender and other parties alleging causes of action arising from the nonjudicial foreclosure sale of his residence. The trial court sustained the respondents’ demurrer to Yhudai’s second amended complaint without leave to amend and entered a judgment dismissing the case with prejudice. Yhudai appealed. We affirm.
FACTUAL AND PROCEDURAL SUMMARY
Yhudai owned a residence in Los Angeles. In February 2007 he borrowed $1,802,500 from Impac Funding, and secured the loan with a deed of trust against the residence. Impac Funding is named as the “lender” and MERS as the “beneficiary.” The deed of trust provides that (1) MERS “is acting solely as a nominee for Lender and Lender’s successors and assigns” and (2) Yhudai’s promissory note, together with the deed of trust, “can be sold one or more times without prior notice to [Yhudai].”
On March 29, 2007, Impac Funding sold Yhudai’s promissory note and other promissory notes to a certain securitized investment trust (the ISA Trust). Deutsche Bank is the trustee of the ISA Trust, which was formed under New York law pursuant to a pooling and service agreement (PSA). Under the PSA, in order for a loan to…