Borrower Lacks Standing To Enforce Agreement Relating To Sale Of Promissory Note On Her Home.

After defendant financial institution sold plaintiff’s promissory note, plaintiff brought an action to quiet title of her residence in herself. Defendant demurred because plaintiff failed to allege tender to cure her default on the promissory note. The trial court sustained the demurrer without leave to amend. On appeal, the appellate court considered whether plaintiff should be given leave to amend to state a cause of action for wrongful foreclosure, but concluded plaintiff could not state a cause of action for wrongful foreclosure for the same reason she did not state one to quiet title in herself, stating: “Because a promissory note is a negotiable instrument, a borrower must anticipate it can and might be transferred to another creditor. As to plaintiff, an assignment merely substituted one creditor for another, without changing her obligations under the note. [] An impropriety in the transfer of a promissory note would therefore affect only the parties to the transaction, not the borrower. The borrower thus lacks standing to enforce any agreements relating to such transactions.” (Yvanova v. New Century Mortgage Corporation (Cal. App. Second, Div. 1; May 22, 2014)226 Cal.App.4th 495.)