Clark v. JPMorgan Chase Bank, N.A.

District Court, N.D. California·Decided November 12, 2023·No. 3:21-cv-09391·Unknown

Opinion

San Francisco Division GABRIEL CLARK and LINDA LEE Case No. 21-cv-09391-LB REYNOLDS, ORDER DISMISSING COMPLAINT Plaintiffs, Re: ECF No. 66 v. JPMORGAN CHASE BANK, N.A., Defendant. In this lawsuit, the plaintiffs sued their mortgage lender JP Morgan Chase for breach of contract, among other claims. When the plaintiffs filed the initial complaint in the case, they had not paid their mortgage in years, but then they cured their default through a loan modification that seemingly mooted the case. The court dismissed the initial complaint because the plaintiffs did not allege a contract that was breached, their performance, or damages.1 In their amended complaint, the plaintiffs allege that their lender inflated their mortgage’s principal balance and then coerced them into signing a loan modification. Based on these actions, the plaintiffs claim breach of contract, fraud, and unfair business and debt-collection practices, among other claims.2 Chase 1 Order – ECF No. 63 at 3–4. Citations refer to the Electronic Case File (ECF); pinpoint citations are to the ECF-generated page numbers at the top of documents. moved to dismiss the amended complaint.3 The court grants the motion on several grounds: most conduct is barred by the statute of limitations, the plaintiffs entered into a loan modification that correctly reflects their principal balance (including eleven years of unpaid interest and taxes), the economic-loss rule bars the tort claims, and the plaintiffs do not otherwise plausibly plead claims. The plaintiffs are Gabriel Clark and Linda Lee Reynolds. In 2003, they obtained a $350,000 mortgage on their property in Felton, California, from Washington Mutual. In 2008, Chase acquired the mortgage.4 The plaintiffs missed payments in 2011 and allegedly made a lump-sum payment that year to become current, but then they became in arrears and tried unsuccessfully to obtain a loan modification.5 Chase recorded a notice of default in February 2012.6 The plaintiffs filed bankruptcy petitions and received automatic stays.7 In August 2019, the bankruptcy court granted Chase’s motion for relief from the stay and allowed it to begin foreclosure proceedings.8 Chase rescinded the earlier notice of default and filed a new notice of default in 2020, thereby beginning foreclosure proceedings.9 The plaintiffs filed their original complaint in state court on November 4, 2021, and Chase timely removed the case to federal court on December 3, 2021.10 In April 2022, the parties entered into a loan modification that rolled in eleven years of unpaid interest, taxes, and insurance and set 3 Mot. – ECF No. 66. 4 Am. Compl. – ECF No. 64 at 3–4 (¶¶ 8–9); Purchase & Assumption Agreement, Ex. E to Req. for Jud. Notice – ECF No. 66-2 at 46. The court judicially notices documents that are either incorporated by reference in the complaint or public records. Fed. R. Evid. 201(b); Lee v. City of Los Angeles, 250 F.3d 668, 689 (9th Cir. 2001); Knievel v. ESPN, 393 F.3d 1068, 1076 (9th Cir. 2005) (incorporation- by-reference doctrine). 5 Am. Compl. – ECF No. 64 at 3–4 (¶¶ 9–11). 6 Id. at 4 (¶ 12); Notice of Default, Ex. G to Req. for Jud. Notice – ECF No. 66-2 at 93–95. 7 Bankr. Filing, Ex. B to Req. for Jud. Notice – ECF No. 66-2 at 14–16 (summarizing underlying filings). 8 Id. at 15 (in its motion, Chase argued that the plaintiffs’ “filing of the petition was part of a scheme to delay, hinder, or defraud creditors that involved . . . multiple bankruptcy filings affecting” the Felton Property); Order, Ex. C to id. – ECF No. 66-2 at 21–23. 9 Notice of Default, Ex. I to id. – ECF No. 66-2 at 99–102. the new principal balance at $464,582.81, at four-percent interest, payable over 480 months (forty years).11 The plaintiffs allege that this is an impermissible $202,587.14 increase in their principal balance.12 They do not say why. Chase provides an amortization schedule showing the principal balance of $263,019.39 before the plaintiffs’ default in October 2011.13 It is undisputed that after the default in 2011 through the loan modification in 2022 (eleven years in all), the plaintiffs did not pay their loan, the interest on it, taxes, or escrow expenses.14 Chase points out that the unpaid principal balance of approximately $263,000 would accrue interest of $18,000 a year (at the loan’s fixed rate of 6.875 percent) during the eleven years of default.15 (The point is that as a math problem, based on the mortgage agreement, the numbers add up to the new principal balance.) The complaint has allegations about the parties’ interactions during their business relationship: (1) Chase told the plaintiffs that they did not qualify for a temporary-payment program after the plaintiffs made payments (possibly this was in 2011); (2) Chase refused to convert a trial modification to a permanent modification, insisting on increasing the principal and imposing fees; (3) Chase recorded a notice of default (seemingly in 2020) and the amount in arrears was inaccurate, and then Chase instituted foreclosure proceedings in 2021 despite the plaintiffs’ payments; (4) the plaintiffs never received a complete repayment history from 2011 to 2021; and (4) under duress, the plaintiffs agreed to the loan modification, resulting in the roughly $202,000 increase in their principal balance.16 The complaint has eleven claims: (1) breach of contract for Chase’s failure to provide an accurate payment history from 2011 to 2021 and “[im]properly apply[ing] the plaintiffs’

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Clark v. JPMorgan Chase Bank, N.A., (N.D. Cal. 2023).

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