Washington Mutual and Bank United

On March 16, 2001, Plaintiff Laura Sandoval filed suit against Washington Mutual Bank in Pierce County, Washington on behalf of herself and all other members of the Class – identified below – whose Bank United loans were acquired by Washington Mutual. Sandoval alleged, among other things, that Washington Mutual had made various errors in servicing her loan and that it had improperly assessed property inspection fees to her account.

Sandoval and Washington Mutual have agreed to settle their dispute, provided the proposed Class-wide settlement is approved by the Court. Therefore, on August 13, 2004, at 9:00 a.m., in the Courtroom of the Honorable Katherine M. Stolz, Pierce County Courthouse, Tacoma, Washington 98402, the Court will hold a hearing to consider the terms of the proposed settlement. Members of the Class are allowed to attend. The Class consists of the following persons:

Bank United borrowers whose loans were insured by the United States Department of Housing & Urban Development (“HUD”) and who were assessed at least one property inspection fee by Bank United between January 1, 1999, and June 1, 2001 (when Bank United’s loans were integrated into Washington Mutual’s loan servicing system), but excluding any borrower whose HUD-insured Bank United loan has been foreclosed.

Under the terms of the settlement, Washington Mutual has agreed to waive or refund property inspection fees assessed to those members of the Class who were in regular contact with Bank United during any period in which the Class member’s loan was in default for 30 days or more, and whose property securing the HUD-insured loan was not vacant or abandoned during any such periods of default. Click here for a copy of the settlement agreement.

Class members were mailed notice of the settlement and a claim form.

Claim forms must be completed and post-marked by July 14, 2004.

Click here for a copy of the notice.
Click here for a claim form.

If you have any questions regarding this proposed settlement, please contact us by clicking here or (415) 477-6700.