Sheen

Opinion of the Court by Cantil-Sakauye, C. J.

Several years after purchasing his house, plaintiff Kwang K. Sheen used the home as collateral for two loans he took from defendant Wells Fargo Bank, N.A. (Wells Fargo). Plaintiff subsequently suffered financial setbacks and missed payments on these junior loans. He submitted applications to Wells Fargo to modify the loans, but Wells Fargo did not respond. Instead, it sent plaintiff letters informing him of the actions it might take because of the delinquency of his accounts. The letters did not specifically mention foreclosure. Plaintiff alleges that because “Wells Fargo did not provide [him] with a written determination regarding his eligibility for modification” of the loans prior to sending him the letters, plaintiff “believed the letters meant that the . . . Loans had been modified such that they were unsecured loans” and his house “would never be sold at a foreclosure auction.” Eventually, Wells Fargo sold plaintiff’s debt. Four years later, the owner of the debt foreclosed on plaintiff’s home. Plaintiff sued Wells Fargo. Specifically, plaintiff asserted a negligence claim against Wells Fargo, alleging that the bank “owed…