I'm not an expert on California law, but as I read it, the Single Action rule only applies to a loan secured by a mortgage or deed of trust. If your loan is secured by a perfected security interest in 3 DDA accounts (and how you would perfect a security interest in a DDA account is a whole separate question), then you should definitely be able to recover funds from all three accounts if your loan defaults. But I would check with local legal counsel familiar with collection law in your state before proceeding, not just asking some people on the internet.
3 DDA Accts. Securing Same Loan-Single Action Rule
If we have three DDA accounts securing the same loan, does the "single action rule" limit us to only using the funds from one account in the event of default? It is the funds in all 3 accounts that add up to enough to cover our loan proceeds.
First published on 11/11/2018