WaMuFraud.com: Washington Mutual Fraud (allegations): Testimonials & Class-Action Lawsuits.

Time 2020-07-06 16:05:36

Web Name: WaMuFraud.com: Washington Mutual Fraud (allegations): Testimonials & Class-Action Lawsuits.

WebSite: http://wamufraud.com

ID:20791

Keywords:

Mutual,Fraud,Washington,

Description:

CBS 60 Minutes 8/7/2011 - The Next Housing ShockForeclosure: banks forge missing documents?.CBS 60 Minutes Overtime - on RobosignersForeclosure "Robo-Signers" Unqualified? 10/14/2010Fraud Factories, MERS, LPS, Forgeries:Rep. Alan Grayson Explains the Foreclosure Fraud CrisisForeclosure Fraud: $45T VictimizationMSNBC interviews Attys Michael Pines and Matt Weidner 2 Homeowners Michael T. Pines news Matt Weidner blogthe mechanics of securitization with Neil Garfield MBA JD, Wall Street insider and former trial attorney60 Minutes 12/18/11: Banks Tearing Down Neighborhoods Foreclosed - Banks should Lower PrincipalVideo: MSNBC’s Dylan Ratigan has a meltdown over the meltdownVisit msnbc.com for breaking news, world news, and news about the economyAs explained by Yahoo News on 8/9/11, MSNBC's Dylan Ratigan is mad as hell about the U.S. financial crisis--and he's not gonna take it anymore!While convening a roundtable discussion on the market meltdown on his eponymous MSNBC show on Tuesday, Ratigan exploded."We've got a real problem!" an exasperated Ratigan shouted. "This is a mathematical fact! Tens of trillions of dollars are being extracted from the United States of America. Democrats aren't doing it, Republicans aren't doing it. An entire integrated system, financial system, trading system, taxing system, that was created by both parties over a period of two decades is at work on our entire country right now. And we're sitting here arguing about whether we should do the $4 trillion plan that kicks the can down the road for the president for 2017, or burn the place to the ground, both of which are reckless, irresponsible, and stupid.""I'm sorry to lose my temper," he continued. "But, I tell you what, I've been coming on TV for three years doing this, and the fact of the matter is that there's a refusal on both the Democratic and the Republican side of the aisle to acknowledge the mathematical problem, which is that the United States of America is being extracted."Reject "Fake Customer Service"from the "Bank from Hell"It appears Washington Mutual commits Fraud by:1) Non-Disclosure and False Disclosure, 2) violating RESPA by never answering letters of dispute (qualified written requests), 3) violating CA Civil Code 2943 by not supplying a Payoff Demand Statement requested by mail,3) illegal accounting that doesn't follow Generally Accepted Accounting Principles4) Predatory Practices, such as forced escrows, logging payments weeks after receipt,5) Giving primarily "Liar's Loans" (no document loans), where they know most people can't qualify otherwise,6) Refusing to do Loan Workouts, failing to contact HUD for client help signoffs,7) often combining all of the above to foreclose on whole neighborhoods nationwide.SmartMoney magazine (Cover) calls WaMu THE BANK FROM HELL in a Nov. 02 article: I Can't Believe They Treat People Like This . Buy it or view Online.Problems beset Washington Mutual's mortgage arm (OregonLive.com)ConsumerAffairs.com: WaMu's "acquiring a growing portfolio of consumer class action suits."WaMu, IndyMac and Liar's LoansIndyMac Bank just went under because it had acquired lots of "Liar's Loans" (no document loans) where borrowers are encouraged to lie about their income. The bank doesn't ask for 1040's or other documents, because they know most people don't qualify, so they encourage fraud by not asking for any documentation. Washington Mutual Bank also has lots of Liar's Loans, and some speculate that it will be the next big bank to fall after IndyMac Bank. Some say Liar's Loans were sought after, because it was an easy way to acquire more bank-owned properties faster. I guess they didn't know how fast!More info at MarketOracle, Slate, and WashingtonIndepencent.comCNN on WaMu Appraisal FraudThe 2 Best Strategies I've found!!!:1) Join Thousands in the Mass Joinder Lawsuits by the best Lawyer we've found.2) Hit Them Hard with a Forensic Loan AuditCall me at (562)867-3230 for either solution -Jim Investigate 6 approaches:1) Join Thousands in Mass Joinder Lawsuits by the best Lawyer we've found.2) AmericanLoanAudits.com -Get a Forensic Loan Audit.3) Read LoanRepairNow.com -Get a Loan Modification to Lower your Payments, Interest and Principal after a Forensic Loan Audit4) Refinance at TheWizardHomeLoans.com5) fight Foreclosure with several strategies from Beat foreclosure Fast .com.6) at www.GetDebtFreeFaster.com aka www.ZeroOutYourDebts.comMoneyPark can force banks to acknowledge your payments earlier, and pay off your mortgage and other debts in about 10 years, instead of 30.With a unique payment calculation program, and a schedule of payments by a bonded adminiatrator,reduce your debts in 1/3 the time, with no extra payments by you.See www.ZeroOutYourDebts.com and Click on the online video by MoneyParkThe Orange County Register (CA) printed 2 articles on Case No. 02CC15162:Oct. 9, 02: WaMu sold Clara and Francisco Alonso's $650,000 Yorba Lindahouse from under them because of a $51.56 error. On Tuesday, a judge called the foreclosure horrendous. undo this transaction, OrangeCounty Superior Court Judge James P. Gray told Washington MutualOct. 23, 02: Bank returns family's home (WaMu "sold house due to $51.56 error")(Judge: ... make sure this doesn't happen again. We're really dealing with people's lives here. According to a USA Today 10/8/02 article: They received a default notice, but in July2002 entered into a repayment agreement with the bank by which they wouldmake monthly payments in the amount of $3,994.89, beginning in August2002. On August 30, 2002, Mrs. Alonso went in person to WashingtonMutual to make the first payment, but did not have a copy of the repaymentagreement with her. She asked a teller to look up her home loan account andwas told that the amount due was $3,943.33. Relying on that information, shewrote a check for that amount. On September 10th, the Alonsos received a letter from Washington Mutual,returning their check and informing them that, as partial payments were notacceptable, the loan was immediately in foreclosure. Their efforts to pay theremaining $51.56 fell through as they were never able to connect with thebank's designated officer, even though repeated attempts were made.Washington Mutual informed Plaintiffs that if they did not enter into amodification of their repayment plan, they would foreclose on the house onSeptember 24, 2002. To their complete shock, the Alonsos learned that theirhome sold at foreclosure on September 20, 2002. Written by a Foreclosure Attorney:DON'T LET THEM TAKE YOUR HOUSE!Learn the secrets of foreclosure defense,or lose your home.This Report Can Save Your Home!Fight Your LenderGet a free copy of my Challenge Your Lender workbook and learn how to begin building the paper trail that you will need to defend yourself and to prove the wrongdoings of your lender and loan servicer. Strategic Mortgage DefaultExplains all the issues to decide whether to stop paying your mortgage.It explains what will happen if you walk away from your property. Bankruptcy StrategiesClaiming Maximum Benefits Under Chapter 7 and Chapter 13A 235 page success manual in a downloadable E-book format. It is designed to first compare options, determine qualification for various alternatives including Chapters 7, 11 and 13, and explain options when filing bankruptcy.Loan Mod GuidebookThe Most Comprehensive Step by Step Loan Modification Guide on the InternetStep by StepStop ForeclosureThis is a manual on how you can slow down andeven stop The Foreclosure Of Your Home.Challenge the banks legal authority to foreclose on your house.When challenged correctly, they have to go away and you can keep your home owing nothing. Others Claim WaMu also: (see www.ebizcritique.com (now gone?) for details -summary below)1) extorts late charges by posting payments far after they're received2) never returns phone calls or answers letters3) forces "Escrow accounts" for Property Taxes, despite Deferments4) Overpays Property Taxes, fails to correct, then puts mortgage payments in "suspense"5) charges Late Fees for "Early Payments"6) miscalculates terribly7) loses payments8) enrolls you in fee-charging programs without your knowledge9) long hold times on phone, incompetent help, no follow-up, gives wrong numbers out10) Law Foundation sued WaMu for "alleged practice of illegally seizing elderly and disabled clients' protected Social Security benefits"11) gvickner said: "I have never witnessed such incompetence in my life!"I just recently quit WAMU.... You can not be an honest person and work there. Everything you have stated here in your website is true. Do you know if any class actions have been started to address the predatory way WaMu charges checking accounts (in mydaughter's case) hundreds of dollars in overdraft fees which they incur by timing postings to the disadvantage of the accountholders?I am a former Loan Consultant with WM. I was terminated for criticizing the poor customer service the clientsreceived and for sending a copy of a credit report to the customer who had been involved in an auto accident and did not understandwhat was going on. I was only trying to help the poor woman. In the 13 months I was employed by WM, I had witnessed some of the mostappalling incompetence ever. Documents were routinely lost and clients could never get the status of their loan. Some loans lasted over a year.WM is company of failures and does not fire incompetent and mediocre managers, just recycles them.Customers do not realize the risk they run by applying online or over the phone. Just a punk kid on the other endwho really does not care.I FedEx'd a cashier's check to bring a mortgage current on behalf of a client that WAMU received and signed for 1/3/02. They did not post the funds until June. The entire time they threatened to begin foreclosue (again). I had to get the Dept of Commerce involved for them to admit they even received the moneyI have had nothing but problems with Washington Mutual from the day they took my loan over. I would say that myexperiences mirror all the others I have read.My husband filed a complaint with the U.S. Attorneys Office in San Jose, CA. In order for the U.S. Attorney tohave the FBI investigate the charges and not treat it as a civil matter I need everyone who has posted to all thesites to send their information to :United States AttorneyFederal BuildingThird Floor Duty Attorney280 So. First StreetSan Jose, CA 95113Few weeks ago I refinanced my mortgage. My previous lender was Fleet bank (I was very happy with them), approximately 1 yearago my loan was purchased by Washington Mutual. Since the day it happened the process that used to be a regular bill paymentprocedure became a lengthy, confusing and full of surprises set of events. I found that by sending my bill between 1 and 5th of eachmonth hardly made it to be paid by 16th !!!!!!!! My point is I tend to agree with you that they might have been posting payments late just to charge the late fee.June 2001 wamu lost a electronic payment which put me delinquent 30 days every month untin January 2002. They have proofthat the payment was sent but claim never to have recieved it. One of the customer service reps actually told me that the postoffice was to blame for the damage done to my credit and there was nothing that they would do for me. WAMU gave my loan to their sub-servicer, Litton Loan Servicing, over 60 days ago. I filed a RESPA complaint and a dispute May 11 with Litton, and now they are in violation of RESPA and my loan contract also! My att'y believes that WAMU has violated my contract, meaning WAMU should have to pay all attorneys fees.I filed for a car loan with WM, during this initial sign-up, we paid to have the vehicle registered. Well, come a few months later, I get pulled over because the vehicle shows up unregistered. We finally discover that the papers for the registration could not be found. In other words, the vehicle was NEVER registered, and the papers for this loan are missing. We had the cancelled check. After about a year of playing phone tag with at least 4 different WM departments, they finally decide to cut a check to DMV to pay for the registration. Yet, refused to pay for our car rental fees, since we could not drive the vehicle, nor our time off from work, we had to take to get this matter taken care of. WAMU let someone walk into a branch office, switch addresses on both amoney market account, a checking account, and set up telephone banking. A fewdays later, this guy does about 5 telephone transfers from the MM acctinto the checking acct and, of course, writes checks to everyone.I didn't realize that this was happening or that statements had stoppedcoming... WAMU tells me that they're not going toprovide restitution claiming that I'd exceeded the statutes for notifyingthem of a problem.I filed an ID Theft report to the California Department of MotorVehicles and the woman who took my report said that just that morning, herfraud unit had this big "what's-with-Washington-Mutual?" discussion. TheCalifornia DMV gets a lot of these ID theft claims, but she said that alarge percentage of them centered around WaMu and the DMV investigators werequestioning if something was up with that bank. I'm sure it's more thancoincidental--that bank is out-of-control.Washington Mutual appears to have explicitly broken 4 Federal Laws:1) 15 USC § 1601 et seq.: Truth in Lending requires that banks disclose all details of the transaction2) 12 USC § 1831n(2)(A): Requires banks to follow Uniform accounting principles consistent with GAAP 3) 12 USC § 2605 RESPA: requires that banks acknowledge & respond to a qualified written request .4) 15 USC § 1611 Whoever willfully and knowingly (1) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation, Washington Mutual also appears to have broken State Laws:1) Business and Professions Code 17200 (for unfair and deceptive business practices), 2) unjust enrichment, 3) breach of fiduciary duty, 4) conversion, 5) negligence and 6) violations of the (WA CA) Consumer Protection Act7) violations of California Civil Code 2943 for not supplying Payoff Demand Statements, if requested by mailWow!! They and the Trustee (Calif Reconveyance) break Civil Code 2943, too!!!I have repeatedly requested the Payoff Demand Statement by mail: they just ignore it!I have found Washington Mutual impossible to work withMortgage payments sent in plenty of time were always posted as late, so I have had to go into the Branch and buy a Money Order and have them send it to avoid more late charges. It appears from lawsuits and complaints from others that this is how they make extra money.I had a Prop. 13/Prop. 58 Property Tax reduction that the LA County Assessor disallowed until I won the appeal. (After that, the Tax Collector just wasn't coordinating with the Assessor yet.) When I wrote Washington Mutual on 11/13/98 about the situation, they refused to answer my letters and paid the Tax Collector the wrong amount, and caused near foreclosure many times by extorting larger payments and late charges, until I got the Tax Collector to refund their overpayment ($3,000).I have found major irregularities in their Disclosure and Accounting Practices. I started writing them on this in November 2001, and have been writing them since. They overtly break RESPA Law by refusing to even acknowledge my letters (all sent Certified Mail w/ return Receipt), let alone answer them.I have filed complaints with the BBB and the Federal Office of Thrift Supervision, among others.Washington Mutual will not answer any letters on any subject!(This is a Direct Violation of RESPA Law! -Do they want Lawsuits?)They break California Civil Code 2943 by not providing a Payoff Demand Statement when requested by mail, as well.We should all complain to the Office of Thrift Supervision, but they try very hard to close the case, even for a bogus reason. When I found out WaMu's CEO Kerry Killinger was on the board of directors of the OTS, I learned why. The fox is at the head of the chicken-coop security.1) http://www.mortgagedaily.com/Wamu3-21-01.html (Class Action by Girard & Green, LLP, [Sandoval v. Washington Mutual, Inc., et al., pending in Washington state court, Pierce Co. Sup Ct. Civil#01-2-06488-1 (FBH)] which alleges deceptive, unfair and oppressive business practices directed at mortgage loan borrowers .),(Green, Fauth, and Jigarjian (SF, CA)[formerly Girard & Green]: WaMu "engaged in deceptive, unfair and oppressive business practices directed at mortgage loan borrowers, and breached the mortgage loan contracts which govern their mortgage loan servicing transactions. These practices include failing to post payments received from borrowers in a timely fashion and then charging the borrower a "late charge" and additional interest; imposing improper "property inspection" fees; and failing to respond to borrower complaints or remove improper charges assessed to borrowers")http://www.classcounsel.com charged WaMu, et al. "with violations of the Washington Consumer Protection Act, breach of contract, and breach of the duty of good faith and fair dealing"Also, joined by http://www.lieffcabraser.com (Lieff Cabraser: WaMu "routinely assessed improper property inspection fees in violation of federal regulations, and in breach of its own mortgage contracts. Plaintiffs also allege that Bank United/Washington Mutual regularly assesses improper late fees and finance charges on payments timely made by customers that are received during the contractual fifteen day grace period provided in the mortgage contracts.)"2) http://www.mortgagedaily.com/WamuClassAction080301.html(Class Action by Cohen, Milstein, Hausfeld & Toll,(in Pierce Co. Sup. Ct, Washington) which alleges deceptive, unfair and oppressive business practices directed at mortgage loan borrowers .), cmht.com/casewatch/cases/cwwashmut.htm 3) http://www.cmht.com [1/28/02: Dembowski, et al. v. Washington Mutual Bank, FA, Civil Action No. 02-2-03866-2SEA (Superior Court of Washington State, King County)] For WaMu customers only, that were not with Bank United as well (see Pierce Co suit above)4) http://www.mortgagedaily.com/Wamu061501.html($71 Million Awarded in Mississippi for "not disclosing insurance premiums included in loan renewals")5) http://www.classactionamerica.com/cases/case.asp?cid=507 (Briseno v Washington Mutual Bank [filed 1/1/98] alleges that the bank victimized at least 25,000 homeowners since 1993 by overcharging for replacement hazard insurance)[1/25/01:CA Supreme Ct gave ruling on how Trial court to handle this]6) http://www.lawfoundation.org (Law Foundation sued for WaMu's alleged practice of illegally seizing elderly and disabled clients' protected Social Security benefits)7) http://www.bigclassaction.com/financial.html(for allegedly systematically misapplying funds to work in their favor, as well as other irregularities.)8) Copy of Suit Brown v. WaMu (LA Co, Sup BC 192874)PAUL E. BROWN, RONALD L. COURTOIS, MARK A. CHADWELL, WILLIAM D. BARRY, KIM S. REA, JAMES N. MYERS and BONNIE MYERS, et al. vs.WASHINGTON MUTUAL BANK, F.A., GREAT WESTERN BANK, and AMERICAN SAVINGS BANK,F.A."based on nondisclosures and mis-disclosures of defendants (hereinafter collectively "Washington Mutual"), unwittingly paid inflated charges for credit reports, real estate appraisals, flood certification fees, tax service fees, wire transfer fees, express document delivery and/or other loan-related services which exceeded Washington Mutual's actual cost for those services""violations of California's UCA"More on Class Action Lawsuits belowI have filed the following complaints against Washington Mutual:2/18/02 Complaint # 10256637 to the Better Business Bureau 550 W. Orangethorpe, Placentia, CA 928702/20/02 Complaint # 0506642002 to the Office of Thrift Supervision, Dept of the Treasury1/31/02 Complaint # CAC2002W-002812-0 to the FDIC3/15/02 Complaint to www.ebizcritique.com (now gone?)To date (3/16/02), Washington Mutual has never responded to any letter, in direct violation of RESPA laws. NOTE: I have letters from the Better Business Bureau and the Office of Thrift Supervision stating that WaMu won't respond. Is WaMu for real??? (or is this a cartoon/play company?)We should all complain to the Office of Thrift Supervision, but they try very hard to close the case, even for a bogus reason. When I found out WaMu's CEO Kerry Killinger was on the board of directors of the OTS, I learned why. The fox is at the head of the chicken-coop security."this statement comes from my 15 years of experience in the Banking Industry. I am seeking any and all Ex-Employees of Coast Federal Bank, Home Savings Bank and Washington Mutual Employees that were affected by the Washington Mutual take over of Home Savings. ""I Feel Washington Mutual Cheated Me, a Single Mother of two, out of over $8,000.00"Check out More Complaints from many others posted on Angelfire.comThe host (justice4me2@yahoo.com) states: "The Funny thing about this Internet site is that never once has Washington Mutual ever E-mailed us.You would think that with the thousands of vistors that have visited us that Washington Mutual would try to make things right. I really think they don't care! We challenge Washington Mutual to make a rebuttal. "YosemiDee@aol.com wrote: "I have never had such bad service at a bank before. In early May I received a notice for fees due for my safe deposit box. I hand carried my check into the branch and paid the fee. Mid July I received a LATE NOTICE from Washington Mutual stating that my payment was late and that I owed an additional $5.00 for a late fee. I ordered a copy of my cancelled check and again hand carried it into the branch and spoke with the manager (after having to wait for 30 minute before I was helped.) She made copies of all of my paperwork and said it would be taken care of. This was mid July. I asked the manager at that time to send me a confirmation that my account was cleared. A month later and I still have not received anything from them."Tonya Yorke wrote: "No one seems to know who is responsible for a debit card transaction that is taken out of the account, put back in, taken out AGAIN, then put back in two times more! The vendor nor the bank could claim responsibility. So, I told them I was going to the bank, withdrawing the balance that they say I have (subtracting outstanding checks) and closing my account. That they better take note because they just screwed themselves out of $200.00 and because they can not tell me who is doing it and that it won't happen again."Someone wrote: "My residence was mistakenly zoned commercial, not residential by Cook County. Commercial is 33% and Residential is 16%. So for every two dollars I pay in property tax I should be paying one. Now this is not WMs fault. But after court proceedings to get the status of the property changed successfully, I tried to talk this over with WMs tax department. How astonished I was to find out you can only fax them, and I have. Imagine not being able to talk to a very important part of your mortgage company! I have sent them documentation from the courts and requested that my mortgage be recalculated. I have asked to reply by phone, letter or fax. It is as if my request has fallen on deaf ears.""Krystee" (BettiePage@rhy.com) wrote: "I was stupid enough to open a new account with my divorce settlement. I opened it with a large check--A CERTIFIED LOCAL CASHIER'S CHECK--, this was all I have to support myself and my two year old daughter. They are holding the check for eleven days. They refuse to call the local issuer of the CERTIFIED FUNDS and verify it, so guess what? They are earning interest on my check, I am bouncing checks, but I can't feed my daughter or put gas in my car, simply because they won't perform some basic customer service that ANY OTHER BANK would. Did they tell me this when I opened the account? NO! No matter who I call, no one will help me, this is their policy and they stand by it.""Lindsay Davis" (ldavis44@hotmail.com) wrote: "I decided to open up a "Free" account at Washington Mutual, and within 4 weeks of doing so, I received a letter stating that Washington Mutual was closing my account. The letter gave no reason or explanation whatsoever as to why my account was being closed.""letsgo420" wrote: "July they deducted a check from my account twice. This caused me to be off in my books, thus in turn one bad check turned into many over the months. When all of a sudden I was over 600.00 over drawn I went in and requested a total print out of my statement, which over three months was a total of 340.00 in just bounced check fees. This took me days to go over and trace back, only to find the cause of the missing money was their fault. Washington Mutual was not very helpful"NEENEE510@aol.com wrote: "if you deposit through the ATM" ... "they are holding those funds for 2 WEEKS!!!! Forget living paycheck to paycheck. I called my bank" ... "this morning again and talked to someone in the branch. I said to her,"This just started happening didnt it?" She agreed. I then asked,"Did anyone ever send us customers notice that this was happening?" The answer was ,"No" But, yet they take a fee of $18.00 for there incompetance. Its not posted on the ATM that they hold it for 2 WEEKS EVEN. WASHINGTON MUTUAL DOES NOT CARE FOR ITS NEW CUSTOMERS THAT THEY BUY THROUGH THESE SUCKY MERGERS!! I AM TAKING MY $ SOMEWHERE ELSE."Jeff Brill (of South Florida Water Management District) wrote: "WE HAVE ALWAYS HAD GOOD CREDIT. WASHINGTON MU, DENIED OUR APPLLICATIONS BECAUSE THEY CLAIM I HAVE NO JOB, AND WE HAVE BAD CREDIT. THIS IS BULL SHIT, MY PAY CHECK IS DEPOSITED INTO A ACCOUNT IN WASHINGTON MU. ALSO OUR CHECKING ACCOUNT IS THERE AND THEY CAN SEE DAM WELL THAT WE PAY OUR BILLS, WE GET OFFERS FROM OTHER OUT OF STATE BANKS FOR CREDIT LINES. SO WHY CAN'T WE GET THE LINE OF CREDIT SIMPLE MY WIFE AND I ARE MINORITY"Analyzing: Consumer Financial Litigation: Ca Bus&Prof Code 17200 Claims (Claims may be predicated on violations of Federal Law and maintained in State Court.More Class Action lawsuits:http://www.coudert.com/practice/washmutualarticle.htm (Washington Mut. Bank v Superior Court (2001) 24 C4th 906, 103 CR2d 320, could be greeted as a victory for class action defendants. First, it forces trial courts to take a hard look at the commonality and manageability issues at the class certification stage, rather than postponing that examination until a motion for class decertification. Second, it suggests that California courts should not bear the burden and expense of nationwide class actions, but that class action plaintiffs should seek redress—at least for some claims—on a state-by-state basis. Third, by permitting enforcement of choice-of-law provisions in adhesion contracts, the decision encourages consumer-related companies to do business in California because they need not fear that choice-of-law provisions will necessarily be ignored.)http://www.cmht.com/ [Cohen, et al above] (2 articles: Litigation Against Washington Mutual Bank Pursued By Homeowners Whose Mortgages Have Been Improperly Processed -March 6, 2002Cohen Milstein Representing Plaintiff in Litigation Against Washington Mutual (only) for Predatory Practices in Mortgage ServicesCohen Milstein Representing Plaintiff in Litigation Against Washington Mutual and Bank United Corp. for Predatory Practices in Mortgage Serviceshttp://seattlepi.nwsource.com/business/56299_wamu30.shtml [Green, Fauth, et al above] (class action on behalf of homeowners nationwide. The lawyers claim that Washington Mutual fails to process mortgage payments on time, doesn't properly handle electronic payments and neglects to maintain accurate records.)http://www.dearborn.com/download/calawcases/Chapter10.htm (Washington Mutual Bank v. Superior Court (1999) 75 C.A.4th 773.This case was a class action suit alleging that Washington Mutual Bank inflated charges beyond actual costs for loan-related services. As an example, $50 was charged for a credit report that only cost $15. Charges were also allegedly inflated for tax services, flood certification, wire transfers, appraisals and recording. The class action suit sought damages for unfair and deceptive business practices (Business and Professions Code 17200), unjust enrichment, breach of fiduciary duty, conversion and negligence.The lender filed a demurer arguing that state law claims should be dismissed since RESPA and Regulation X (good faith estimate) preempt state law and neither provides for a private right of action for violations. Washington Mutual took the position that there was no prohibition against adding a charge to the actual costs.The Superior Court ruled that RESPA and Regulation X do not preempt state law. This decision was affirmed by the Court of Appeal The case was remanded to trial on its merits.The Court of Appeal noted that state laws are preempted only if they are inconsistent with RESPA or Regulation X. Congress had declared that no state law shall be determined inconsistent if it provides greater protection to the consumer.)http://www.mortgagedaily.com/WamuDimeClosing010702.html (""We sent them a payment and had it returned due to 'no loan Number written on the check' and charges followed," wrote a Medford, Oregon borrower. "We sent them our check again and once again they returned it as they wouldn't accept it because now it was a 'partial' payment compared to the Legal and collection charges they imposed upon our loan.")("One borrower copied MortgageDaily.com on a letter to WaMu's CEO, Kerry Killinger, suggesting that WaMu's lack of response to her requests have only made her delinquency worse. She further suggested that WaMu uses chronically late paying borrowers as "a reliable source of revenue for companies as Washington Mutual, which reap millions of dollars in late fees.")http://www.bigclassaction.com/alphabetical.html (Join suit for Washington Mutual (misapplying funds to work in their favor))www.spacecoasthomes.com/financing/bruss/law/1999/law1212.htm (now gone) (in Florida Court, Judge allows borrowers to sue lenders -class action borrowers sued for damages due to (1) unfair and deceptive business practices, (2) unjust enrichment, (3) breach of fiduciary duty, (4) conversion, and (5) negligence. Washington Mutual argued that the claims should be dismissed because the federal Real Estate Settlement and Procedures Act preempts state laws and there is no federal private right of action for RESPA violations. Washington Mutual also argued that RESPA does not prohibit lenders from adding extra charges onto the actual costs of services obtained from third parties such as credit bureaus. IF YOU WERE THE JUDGE would you rule the federal RESPA law prohibits home loan borrowers from suing lenders in state courts for overcharges? The judge said NO! The primary purposes of RESPA, the judge explained, are to prevent illegal kickbacks and rebates, as well as to inform home loan borrowers of their complete costs. These disclosures are made to borrowers on HUD-1 forms, he noted. Neither RESPA nor Regulation X, which sets out the rules for the good faith estimate of loan charges, expressly preempts private borrower rights of action under state laws for violations, he emphasized. If borrowers were prohibited from suing lenders in state courts for alleged disclosure violations, consumers would be left without any practical legal remedy, since RESPA does not establish a private right of action under federal law, the judge added. More on RESPA Law in California:(HUD's Q&A Answers to RESPA issues in Calif Court Case Brown v. Washington Mutual Bank, FA)in Suit Brown v. WaMu (LA Co, Sup BC 192874)For More On Class Action Lawsuits against Washington Mutual, search on Google or AltaVista, etc:Google search for +"washington mutual" +"class action"More about what I have discovered, which most lawyers do not raise in current Lawsuits:Washington Mutual Mortgages are funded by Exchanges not LoansWhen I entered into the Mortgage, I thought that the Bank was Loaning me funds from Depositors.I thought that because there was a risk to Depositor funds, the interest rate charged was justified.Most others believe the same, and this is considered Generally Accepted Accounting Principles (GAAP) by CPAs and other accountants.The agreement called for a repayment of over $300,000 over a period of 30 years for a Loan of $144,000. Is this usurious, if they never lent me their own money, and risked nothing?After reading Tom Schauf's Books at I got and studied Booklets published by the Federal Reserve banks themselves.In these Booklets, I learned that the Bank RISKED NO CAPITAL.Tom Schauf is a CPA an expert lecturer on Banking,but the Booklets themselves tell the truth of the nature of the agreement.I have learned that Banks can Deposit my Promissory Note into an account and take that money and hand it back to me. This is an exchange, not a loan. The Promissory Note that I gave them was the instrument that was deposited to create the money that was given to me. This was an exchange, not a loan of Depositors' money: no Bank Capital was risked.I recommend buying Tom Schauf's 2 books ($20 each): America's Hope To cancel bank loans without going to court & The American Voters Vs. The Banking System The technical guide to America's Hope.(They are easy to read, but often repetitious).Tom Schauf's approach requires taking the bank to court.CPA Opinion Letters from other CPAs, which explain the actual exchange (not loan) process can be enlightening in court. You should hire a CPA to testify and explain the process in court, as well. I'm using a great CPA here, near LA.For a while, I suggested letting lawyers Zero Out Mortgages bydepositioning WaMu officials and forcing WaMu to Release the Mortgage by Reconveyancebecause of WaMu's apparently consistent Constructive Fraud and Deception:Investigate 6 approaches:1) Join Thousands in Mass Joinder Lawsuits by the best Lawyer we've found.2) AmericanLoanAudits.com -Get a Forensic Loan Audit.3) Read LoanRepairNow.com -Get a Loan Modification to Lower your Payments, Interest and Principal after a Forensic Loan Audit4) Refinance at TheWizardHomeLoans.com5) fight Foreclosure with several strategies from Beat foreclosure Fast .com.6) at www.GetDebtFreeFaster.com aka www.ZeroOutYourDebts.comMoneyPark can force banks to acknowledge your payments earlier, and pay off your mortgage and other debts in about 10 years, instead of 30.With a unique payment calculation program, and a schedule of payments by a bonded adminiatrator,reduce your debts in 1/3 the time, with no extra payments by you.See www.ZeroOutYourDebts.com and Click on the online video by MoneyParkBecause the Nature of the Transaction is contrary to GAAP (Generally Accepted Accounting Principles), and is against what the public believes in general, I believe this non-Disclosure of the true nature of the transaction is FRAUD.I firmly believe that the public needs to know about this deception, and I believe that a jury would be appalled to learn of this massive deception. I believe it is necessary for someone to properly use Discovery in a court of Law and set precedent in Federal Court, especially in Appellate Court. If possible, this should be brought to the Supreme Court.To Complicate the Situation, Washington Mutual is breaking RESPA laws, because it is apparently afraid to answer my questions. I have been asking Washington Mutual questions about these matters since November 2001, and they refuse to answer. RESPA requires them to acknowledge my letters and clarify the dispute. They appear to prefer to break the law than to answer my letters.If you want to know why there is no Capital for Investment left in the US, look at the "unconstitutional" Federal Reserve, a privately-owned institution that has extorted money from everyone since 1913. This will tell you why the economy is failing. Keynesian economics doesn't work -Read books by Ludwig von Mises and the Austrian School of Economics.(Read about Billions for the Bankers -Debts for the People)For more info on the Federal Reserve, go to DeepInfo.com, especially Fed Fed2On May 23, 1933, Congressman Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON. Read DetailsRead about Billions for the Bankers -Debts for the PeopleEmail me with your horror stories at jimk@cyberdude.comFor a while, I suggested letting lawyers zero out WaMu mortgages bydepositioning WaMu officials and forcing WaMu to Release the Mortgage by Reconveyancebecause of WaMu's apparently consistent Constructive Fraud and Deception:Unfortunately, with the advent of the Patriot Act and Bush's violation of constitutional rights at his whim, we feel it is less safe to do Mortgage Release now.Investigate 6 approaches:1) Join Thousands in Mass Joinder Lawsuits by the best Lawyer we've found.2) AmericanLoanAudits.com -Get a Forensic Loan Audit.3) Read LoanRepairNow.com -Get a Loan Modification to Lower your Payments, Interest and Principal after a Forensic Loan Audit4) Refinance at TheWizardHomeLoans.com5) fight Foreclosure with several strategies from Beat foreclosure Fast .com.6) at www.GetDebtFreeFaster.com aka www.ZeroOutYourDebts.comMoneyPark can force banks to acknowledge your payments earlier, and pay off your mortgage and other debts in about 10 years, instead of 30.With a unique payment calculation program, and a schedule of payments by a bonded adminiatrator,reduce your debts in 1/3 the time, with no extra payments by you.See www.ZeroOutYourDebts.com and Click on the online video by MoneyPark

TAGS:Mutual Fraud Washington 

<<< Thank you for your visit >>>

WaMuFraud.com describes laws that Washington Mutual Bank / JP Morgan Chase has broken, gives the authors problems with WaMu, links to Testimonials & lists Class-Action Lawsuits & Mass Joinder Lawsuits against WaMu/Chase.

Hot Websites