This is true. I paid off First Premier Bank CC in 2004, when owned by Washington Mutual. Recently I had letters arriving asking for settlements and people calling my family telling them I could go to jail if I didn't pay. They updated it weekly on my credit report as well. I went to my VT AG who addressed this with them and guess what? They never responded .Chase and JP are selling these to recovery sites even if they were paid off.
Chase and JP claim to own these and sell them and claim to own the notes and sell them and foreclose . Now , they are claiming they don't , and cry wolf cause they were caught and want to sue the FDIC.. ah NO ! You lied Chase and JP and its now time you face your karma! I warned you .
by Neil Garfield
EDITOR'S NOTE: The dots are starting to get connected. Here JP Morgan who said they were the successor for everything that was WAMU turns out to be arguing that this didn't actually happen and that some money is still left in the WAMU "estate." The issue that is not raised is what else is in the WAMU estate? I content that there are numerous loans or claims to loans that were never transferred to anyone successfully and I think the FDIC and JPM both know that. Chase is trying to limit its exposure for bad bonds while at the same time claiming ownership or servicing rights for the underlying mortgages.Which brings me to a central procedural point: if these cases are to be properly litigated such that the truth of the transaction(s) comes out, then it cannot be done on the rocket docket of foreclosures. It should be assigned to regular civil litigation or even better complex litigation because the issues cannot be addressed in the 5-10 minutes that are allowed on the rocket docket.------------------------------------------------------------------
- JPMorgan (JPM) has sued the Federal Deposit Insurance Corp. for a portion of the $2.7B remaining in the FDIC receivership that liquidated Washington Mutual following the sale of its branches and deposits to JPMorgan for $1.88B during the financial crisis in 2008.
- The lawsuit is the latest development in the dispute between JPMorgan and the FDIC over who should assume Washington Mutual's legal liabilities, such as those related to the sale of problematic mortgage bonds.
- Meanwhile, JPMorgan has been sued by the State of Mississippi for alleged misconduct while going after credit-card users for missed payments. The bank's sins include pursuing consumers for money they didn't owe, Mississippi said.
- The state is the second to sue JPMorgan over the issue, the other being California, while 15 others are examining the matter. JPM is already in early settlement talks with 14 of them.Read more at Seeking Alpha: