Bank Which Acquires Assets of Another Bank Must Record its Interest in Mortgage Before Foreclosing By Advertisement

Facts and the Court’s Ruling Plaintiffs, husband and wife, obtained a $615,000.00 loan from Washington Mutual Bank to refinance their home. and granted the bank a mortgage on their property.  The U.S. Department of Treasury closed Washington Mutual Bank and appointed the FDIC as receiver.  Defendant J P Morgan Chase Bank purchased all of Washington Mutual’s […]