Carino, et al., v. Standard Pacific Corp, et al.,

Filing 18

ORDER signed by Judge Frank C. Damrell, Jr on 1/15/2010 ORDERING this CASE STAYED pending the parties arbitration. The pending Motion to Dismiss 4 and 7 is DENIED as MOOT. Defendants may re-notice the motion, if appropriate, when the stay of this case is lifted. (Duong, D) Modified on 1/26/2010 (Krueger, M).

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Because oral argument will not be of material assistance, the court orders this matter submitted on the briefs. E.D. Cal. L.R. 230(g). 1 1 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA ----oo0oo---DENA CRISOTOMO CARINO; ALLAN CHRISTOPHER DIWA, Plaintiff, v. STANDARD PACIFIC CORP; STANDARD PACIFIC MORTGAGE, INC. fka FAMILY HOME LENDING, INC.; CHASE HOME FINANCE LLC; et al., Defendants. ----oo0oo---This matter is before the court on defendants Standard Pacific Corporation and Standard Pacific Mortgage, Inc.'s motion to compel arbitration and stay the case pending arbitration.1 In NO. CIV. S-09-2005 FCD/KJM MEMORANDUM AND ORDER this action, plaintiffs Dena Carino and Allan Diwa ("plaintiffs") allege fourteen claims for relief against moving defendants, 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 among others,2 premised on the allegation that the loans plaintiffs obtained from defendants were procured as part of a purported scheme of securitization of risky mortgage loans. (FAC, filed July 20, 2009.) Plaintiffs seek by this action to rescind the loans and quiet title to their residential property by suing their lenders, their mortgage broker and the developer of the subject property, alleging claims against defendants for federal truth and lending violations, civil RICO violations, negligence, breach of contract, breach of fiduciary duty, fraud, intentional infliction of emotional distress and unfair business practices. Plaintiffs filed a response to the motion, stating they did not oppose the motion and conceding that the subject Agreements required arbitration of the instant dispute. (Docket #15.) As such, the court HEREBY grants defendants' motion to compel arbitration. arbitration.3 This case is now STAYED pending the parties' The parties are directed to inform the court of the outcome of the arbitration within 20 days of the arbitrator's decision. Plaintiff also names as defendants Homecomings Financial Services, LLC, Mortgage Electronic Registration Systems, Inc., HSBC Bank USA and Chase Home Finance, LLC. After removing the case, these defendants filed a motion to dismiss plaintiffs' first amended complaint, which the court deferred ruling on until consideration of the pending motion to compel arbitration. (Docket #s 4, 7, 14.) These defendants have not joined or filed a response to the instant motion. The stay applies only to the instant case and the named parties in this matter. The court cannot, as requested by plaintiffs, preclude the filing of any claims or prosecution of any actions against plaintiffs which are not the subject of this lawsuit. 2 3 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 MOOT. The pending motion to dismiss (Docket # 4, 7) is DENIED as Defendants may re-notice the motion, if appropriate, when the stay of this case is lifted. IT IS SO ORDERED. DATED: January 15, 2010 FRANK C. DAMRELL, JR. UNITED STATES DISTRICT JUDGE 3

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