Can a creditor bring a personal action on a mortgage where the value of the mortgage has been lost?

"However, when the value of the security has been lost through no fault of the creditor, the creditor may bring a personal action on the debt. [Citation.]" (Bank of America v. Graves (1996) 51 Cal.App.4th 607, 611.) For example, " 'where the security

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has been exhausted or rendered valueless through no fault of the mortgagee, or beneficiary under a trust deed, an action may be brought on the debt on the theory that the limitation to the single to the single action of foreclosure refers to the time the action is brought rather than when the trust deed was made, and that if the security is lost or has become valueless at the time the action is commenced, the debt is no longer secured.' " (Ibid., italics added.) However, " '[w]hen the mortgagee, by his own act or neglect, deprives himself of the right to foreclose on the mortgage, he at the same time deprives himself of the right to an action upon the note.' [Citation.]" (Pacific Valley Bank v. Schwenke (1987) 189 Cal.App.3d 134, 140-141, italics added.)