John Somarakis, Trustee, V U.s. Bank, National Association

CourtCourt of Appeals of Washington
DecidedMarch 1, 2022
Docket54669-8
StatusUnpublished

This text of John Somarakis, Trustee, V U.s. Bank, National Association (John Somarakis, Trustee, V U.s. Bank, National Association) is published on Counsel Stack Legal Research, covering Court of Appeals of Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
John Somarakis, Trustee, V U.s. Bank, National Association, (Wash. Ct. App. 2022).

Opinion

Filed Washington State Court of Appeals Division Two

March 1, 2022

IN THE COURT OF APPEALS OF THE STATE OF WASHINGTON

DIVISION II JOHN SOMARAKIS, TRUSTEE OF THE No. 54669-8-II JOHN SOMARAKIS TRUST,

Appellant,

v. UNPUBLISHED OPINION U.S. BANK NATIONAL ASSOCIATION AS TRUSTEE FOR THE RMAC TRUST, SERIES 2016-CTT; NORTH STAR TRUSTEE, LLC; a Washington limited liability company, LISA HACKNEY AND JOHN DOE HACKNEY, wife and husband; and RUSHMORE LOAN MANAGEMENT SERVICES, LLC,

Respondents.

PRICE, J. — John Somarakis appeals the superior court’s orders dismissing all of his claims

against U.S. Bank National Association as Trustee for the RMAC Trust, series 2016-CTT; North

Star Trustee, LLC; and Rushmore Loan Management Services, LLC. We reverse the superior

court’s order granting summary judgment to U.S. Bank on two of Somarakis’ breach of contract

claims and duty of good faith claims and granting summary judgment to U.S. Bank and Rushmore

on the Consumer Protection Act (CPA), chapter 19.86 RCW, claim as discussed below. And we

direct the superior court to grant summary judgment in favor of Somarakis on his breach of contract

claim based on the failure to release the insurance proceeds. We affirm the remainder of the

superior court’s orders. Accordingly, the superior court’s orders are affirmed in part and reversed

in part, and we remand for further proceedings consistent with this opinion. No. 54669-8-II

FACTS

I. BACKGROUND

In March 2009, John Somarakis received a $900,000 loan from ING Bank, FSB in

exchange for an adjustable rate note secured by a deed of trust recorded against Somarakis’ real

property located in Vancouver. ING Bank then merged with Capital One, National Association

and Capital One became the successor in interest.

The deed of trust provided in Section 1 that the lender, U.S. Bank, was not required to

apply partial payments to the loan:

Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. . . . Lender may hold such unapplied funds until the Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower.

Clerk’s Papers (CP) at 1062-63. Section 11 of the deed of trust also provides how to apply

miscellaneous proceeds, like insurance payments, received as a result of damage to the property:

If Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. . . . If the restoration or repair is not economically feasible or Lender’s security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.

CP at 1065. And finally, Section 2 of the deed of trust provides the order of priority for payments:

2 No. 54669-8-II

Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.

If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.

CP at 1063.

In July 2016, Somarakis defaulted on the loan. In November 2016, a building on the

property securing Somarakis’ loan suffered fire damage. Somarakis received insurance funds for

the repairs to the property totaling $28,428.36. In July 2017, Somarakis forwarded the insurance

funds to Capital One to be applied to the loan, but Capital One placed the funds in a restricted

escrow account because the loan was in default.

On October 13, 2017, Capital One sold Somarakis’ loan to U.S. Bank. On November 9,

2017, Rushmore sent Somarakis notice of the sale of his loan. On November 14, 2017, Capital

One sent Somarakis notice that Rushmore would become the new loan servicer effective December

1, 2017. On December 1, 2017, the $28,428.36 in insurance funds paid to Capital One was

transferred to Rushmore, and Rushmore continued to hold the amount in a restricted escrow

account.

3 No. 54669-8-II

On December 6, 2017, North Cascade Trust, the original trustee, sent Somarakis a notice

of default. The record does not indicate what, if any, further action was taken following the notice

of default. On April 27, 2018, North Star was appointed as successor trustee of the deed of trust.

In August 2018, North Star issued an updated notice of default to Somarakis. The notice

of default stated that U.S. Bank had declared Somarakis in default and gave the reasons for the

alleged default.

Between February and July 2018, Somarakis wired multiple payments to Rushmore

attempting to bring his loan current. However, all of the wire payments were returned to Somarakis

without explanation.

On December 14, 2018, Somarakis filed a complaint against U.S. Bank, Rushmore, and

North Star.1 Somarakis alleged the following claims:

1. Violation of Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692-1692p, against Rushmore and North Star;

2. Defamation against U.S. Bank, Rushmore, and North Star;

3. Outrage against U.S. Bank, Rushmore, and North Star;

4. Breach of Contract against U.S. Bank;

5. Violation of the CPA against U.S. Bank, Rushmore, and North Star;

6. Violation of Fair Credit Reporting Act, chapter 19.182 RCW, against U.S. Bank and Rushmore;

7. Negligence against U.S. Bank, Rushmore, and North Star;

8. Breach of duty of good faith against North Star;

9. Declaratory judgment that he was not in default; and

1 Somarakis also included Lisa Hackney as a defendant. Lisa Hackney was dismissed as a defendant by a stipulated agreed order.

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