Chavez v. JPMorgan Chase Bank, N.A. | Chase did not acquire the Mortgage loan as part of the sale from the FDIC. Instead, pursuant to a Mortgage Loan Purchase and Sale Agreement (“P&S”) by and between Washington Mutual Bank, FA (“WAMU”) and Bank of America, N.A. (“BOA”)
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS
JUAN C. CHAVEZ, Plaintiff, v. JPMORGAN CHASE BANK, N.A. Defendant.MOTION OF JPMORGAN CHASE BANK, N.A. FOR LEAVE TO FILE AMENDED COUNTERCLAIM
EXCERPT:
Chase did not acquire the Mortgage loan as part of the sale from the FDIC. Instead, pursuant to a Mortgage Loan Purchase and Sale Agreement (“P&S”) by and between Washington Mutual Bank, FA (“WAMU”) and Bank of America, N.A. (“BOA”), WAMU sold the Plaintiff’s Mortgage loan to BOA on or about January 26, 2007. Pursuant to the P&S, WAMU retained servicing rights to the Plaintiff’s Mortgage loan. “On September 25, 2008, the Office of Thrift Supervision (“OTS”) declared WAMU to be insolvent and appointed the Federal Deposit Insurance Corporation (“FDIC”) as Receiver for WAMU. The FDIC accepted the appointment as Receiver on September 25, 2008.” Id. at ¶ 5. “On the same day that the FDIC was appointed as Receiver of WAMU, it sold certain assets and certain liabilities of WAMU to Chase pursuant to a written Purchase and Assumption Agreement.” Id. at ¶ 6. Accordingly, Chase acquired the servicing rights to the Plaintiff’s Mortgage loan as part of the asset sale from the FDIC. “Chase continues to service the plaintiff’s Mortgage loan for [BOA] and is authorized to bring actions against borrowers for breach of their payment obligations.” Id. at ¶ 9.
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Chavez v. JPMorgan Chase Bank, N.A. AMENDED COUNTERCLAIM OF JPMORGAN CHASE BANK, N.A.
