Declining to decide whether a borrower may bring a pre-foreclosure suit to challenge the assignment of the beneficial interest in the deed of trust and whether a borrower has standing to sue pre-foreclosure on the ground that the assignment is void, this decision holds that the borrower’s claim fails for another reason: judicially noticeable documents show the assignment was valid. Plaintiff alleged that after it made her loan Washington Mutual sold the loan to Washington Mutual Asset Acceptance Corp. and she claimed that the FDIC’s Purchase & Assumption Agreement by which JP Morgan Chase bought most of Washington Mutual’s assets didn’t cover assets owned by the Acceptance Corp. However, the P&A Agreement provided that Chase acquired all assets of Washington Mutual’s subsidiaries and other business combinations or entities, a phrase broad enough to include the Acceptance Corp.
California Court of Appeal, First District, Division 1 (Humes, P.J.); May 9, 2016; 2016 WL 2726229