Friday, February 22, 2013

FDIC has to face $10 billion WaMu-related lawsuit | Reuters

A foreclosure fight on my Facebook friends list, posted about this article and asked the great question (and answered it )   WHY shoud the FDIC be sued because of the WAMU loans?  At Foreclosures, Evictions and You  we don't wonder WHY?  We wonder how did they avoid lawsuit all these years!

FDIC has to face $10 billion WaMu-related lawsuit | Reuters: "A federal judge ruled that the Federal Deposit Insurance Corp has to face a $10 billion lawsuit tied to the failure of Washington Mutual Bank.

The judge refused the FDIC's request to dismiss the lawsuit brought by Deutsche Bank National Trust Co over bad mortgages that were securitized by Washington Mutual.

Washington Mutual, or WaMu, was seized by the Office of Thrift Supervision in September 2008 in the biggest "  KEEP READING by clicking on the title link above!

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