Yvanova, a borrower still lacks standing to challenge the assignment of his home loan before foreclosure or because the assignment occurred after the assignee trust’s closing date. The burden is on the plaintiff to prove his standing to challenge an assignment of his home loan to securitized trust. Since the trust is not a plaintiff in the case, it bears no burden to prove the validity of the assignment. Yvanova v. New Century Mortgage Corp. (2016) 62 Cal.4th 919 only allows standing to bring post-foreclosure wrongful foreclosure suits based on void assignments. This was a pre-foreclosure challenge which was barred by Gomes v. Countrywide Home Loans, Inc. (2011) 192 Cal.App.4th 1149, a decision that Yvanova left intact. Also, this decision holds that Glaski v. Bank of America, N.A. (2013) 218 Cal.App.4th 1079 is wrong: a post-closing-date transfer of a loan into a New York securitized trust is voidable, not void, so the borrower has no standing to challenge it. The Fannie Mae/Freddie Mac Uniform Security Instrument does not itself confer standing on the borrower to bring such a challenge. The borrower also lacks standing to sue for cancellation of the assignment under Civ. Code 3412 since the assignment does not change the borrower’s obligations under the note and deed of trust.
California Court of Appeal, Fourth District, Division 1 (McConnell, P.J.); March 16, 2016; 2016 WL 1055062