Yvanova

Yvanova v. New Century Mortgage CA2/1

Good Law
Court of Appeal of CaliforniaJuly 29, 2016B247188ACalifornia2,155 words

Opinion

Opinion

Chaney, J.

BACKGROUND

In 2006, plaintiff executed a deed of trust securing a note for $483,000 on residential property in Woodland Hills, Los Angeles County. The lender and beneficiary of the trust deed was New Century Mortgage Corporation (New Century). New Century

2 filed for bankruptcy on April 2, 2007, and on August 1, 2008, was liquidated and its assets transferred to a liquidation trust. According to the complaint, New Century executed a purported assignment of the trust deed on December 19, 2011, (despite its earlier dissolution) to, according to the recorded assignment, Deutsche Bank National Trust Company (Deutsche Bank) “as trustee for the registered holder of Morgan Stanley ABS Capital I Inc. Trust 2007-HE1 Mortgage Pass-Through Certificates, Series 2007-HE1” (the Morgan Stanley investment trust). The assignment was prepared by Ocwen Loan Servicing, LLC, which is also listed as the contact for both New Century and Deutsche Bank and as the attorney in fact for 1 New Century. The assignment bears a notation that it was recorded December 30, 2011. According to the complaint, the Morgan Stanley investment trust to which the deed of trust was purportedly assigned on December 19,…

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