David Barry Toneman, Kelly Kristene Toneman v. U.S. Bank, National Association as Trustee for Bear Stearns Asset Backed Securities Trust 2004-AC7, Asset Backed Certificates, Series 2004-AC7 America’s Servicing Company Wells Fargo Bank, N.A.; All Persons Unknown Claiming Any Legal or Equitable Right, Title, Estate, Lien or Interest in the Property D
Published: Aug. 2, 2014 | Result Date: Oct. 21, 2013 | Filing Date: Jan. 1, 1900 |Case number: 2:12-cv-09369-MMM-MRW Bench Decision – Defense
Facts
David and Kelly Toneman sued U.S. Bank National Association and others.
Contentions
PLAINTIFF'S CONTENTIONS:
In 2004, the Tonemans entered into a mortgage loan transaction with Union Federal Bank of Indianapolis. The Tonemans used the loan to purchase property in Santa Clarita. As part of the transaction, the Tonemans executed a promissory note.
In 2008, America's Serving Co. caused a notice of default to be recorded against the property. The default declaration attached to the notice was false and defective. America's Serving Co., was a division of Wells Fargo, and therefore Wells Fargo authorized the notice to be recorded. The Tonemans then entered into a loan modification process with Wells Fargo. However, during the negotiations, a notice of trustee's sale was recorded against the property, again supported by false documents. A trustee's sale was eventually conducted without notice to the Tonemans.
Result
The court dismissed the Tonemans' complaint.
Other Information
FILING DATE: Oct. 31, 2012.
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