Asquith Williams v. Specialized Loan Servicing, LLC

BACKGROUND

I. Factual Background1 In 2005, Plaintiff Asquith Williams (“Williams”) bought a property in Corona, CA (the “Property”) with a first mortgage for $516,000 and a home equity line of credit (the “HELOC” or “second mortgage”) of $200,000. Compl. ¶¶ 5, 11. Williams executed the HELOC on August 14, 2006. Id. ¶ 11. The maturity date of the HELOC was August 1, 2021. Id. In 2006, Williams obtained a loan modification, which he believed consolidated his first mortgage and the HELOC because the lender—Lending Company, Inc.—remained the same. Id. ¶ 12. He did not receive any notification that his servicer changed from Lending Company, Inc., to Defendant Specialized Loan Servicing, LLC (“SLS”) or any other loan servicer. Id. Williams made payments on the first mortgage and received no communications from his servicer until August 2021, when he was notified that the HELOC had matured and that over $300,000 was due on the loan. Id. II. Procedural History On October 6, 2022, Williams filed a complaint against Defendant Specialized Loan Servicing, LLC (“SLS”) in the Superior Court of California, County of…