SMS Financial v. Cornerstone Tile Co.

Filed 1/26/18 CERTIFIED FOR PUBLICATION IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIRST APPELLATE DISTRICT DIVISION TWO SMS FINANCIAL XXIII, LLC, Plaintiff and Appellant, A146711 v. CORNERSTONE TITLE COMPANY, (Alameda County Super. Ct. No. HG14737066) Defendant and Respondent. A bank made a business loan that was guaranteed by the principals of the business and secured by a deed of trust on property the principals owned. Years later, the bank assigned the note and deed of trust to plaintiff SMS Financial XXIII, LLC (SMS). After the borrower defaulted on payment, SMS undertook…