Kan v. Guild MortgageAnnotate this Case
Plaintiff filed a quiet title complaint against Guild and others, alleging that the loans secured by the real property at issue were securitized, resulting in defendants' interest in the real property being extinguished, relinquished or discharged. On appeal, plaintiff argued that he can state a valid cause of action for quiet title based on allegations that the attempt to transfer the first deed of trust to the mortgage-backed "investment" trust (CWALT) did not comply with the trust's servicing and pooling agreement and was therefore void. The court concluded that plaintiff's argument was addressed in Jenkins v. JPMorgan Chase Bank, N.A., and the court agreed with Jenkins that, in this case, such allegations do not give rise to a viable preemptive action that overrides California's nonjudicial foreclosure rules. Accordingly, the court affirmed the judgment and concluded that Guild's demurrer was properly sustained.