10th Circuit Court of Appeals – If WaMu notes were endorsed post-receivership, FIRREA does not apply!
(Disclaimer: This is not legal advice. Seek an opinion from a licensed attorney regarding this information.)
ATTENTION EVERYONE WITH A WAMU MORTGAGE / DEED OF TRUST!:
For years now, JPMorgan Chase has been getting away with murder in foreclosure cases involving WaMu loans by hiding behind the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). If homeowners facing foreclosure of their WaMu loans by Chase were to raise claims or defenses regarding WaMu misconduct, including WaMu’s failure to transfer the notes by proper endorsements/ assignments to trusts, the courts almost universally have slammed the door shut in the homeowners’ faces by claiming it doesn’t have jurisdiction. If the claims weren’t raised with the FDIC by the “claims bar deadline of December 30, 2008” then too bad, game over.
Well maybe the game isn’t over if the arguments are made properly. This is because the U.S. 10th Circuit Court of Appeals just gave us this clarification regarding WaMu endorsed notes and FIRREA. Even though the homeowner lost in this ruling, this clarification is very useful to all.
“But it is clear from Pembroke Trust’s complaint that the alleged misconduct stretches years beyond WaMu’s failure and placement into receivership. The complaint contends that someone altered the blank copy of the note—which had not been endorsed back in 2006—to shore up title problems by fraudulently placing Ms. Riley’s endorsement on it after she no longer had endorsement authority. This event supposedly occurred sometime between 2012 and 2014—a time frame that is indisputably post-receivership. The FIRREA exhaustion requirement does not apply to post-receivership misconduct. See Homeland Stores, 17 F.3d at 1272-76. Therefore, we have jurisdiction over these nonrescission claims.”
(See: 18-4-27 – Order affirming District Court)
This is very significant, as there is an overwhelming amount of evidence to now show, and prove, that JPMorgan Chase has been executing assignments and fabricating endorsements of WaMu officers upon thousands of WaMu notes POST-RECEIVERSHIP. This is forgery! With FIRREA barred as a defense, it becomes an issue of fact that should prevent a dismissal of claims or the granting of a summary judgment if the allegations are that the notes were endorsed sometime AFTER September 25, 2008, and by unauthorized persons.
If anyone is currently facing a foreclosure action on a WaMu mortgage / deed of trust with an endorsement on the note by “Cynthia Riley,” “Jess Almanza,” “Robin Tange,” or “Leta Hutchinson” to name some, contact me immediately to discuss how my expert services can help.
Bill Paatalo – Private Investigator – OR PSID# 49411
(406) 446-9818
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