Financial – WaMu Option ARM Loan Class Action Lawsuit

WMMSC Settlement

  • Washington Mutual Mortgage Securities Corp has agreed to pay a settlement of $10 million US Dollars in regards to a class action lawsuit
  • The lawsuit is entitled WaMu Mortgage Loan Class Action Lawsuit is Timothy R. Peel, et al. v. BrooksAmerica Mortgage Corp., et al., and is case number 8:11-cv-00079-JLS,
  • Class members claims that WaMu mislead them into acquiring unfavorable mortgage loans
  • The lawsuit is in the jurisdiction of the U.S. District Court for the Central District of California
  • The honorable Judge Staton will reside over the case

Class members in the WaMu Option ARM Loan Class Action Lawsuit are defined as anyone “who obtained an Option ARM Loan between Jan. 16, 2004 and Dec. 2, 2014 that was acquired by WaMu Asset Acceptance Corp. or Washington Mutual Mortgage Securities Corp., that was secured by real property in California, and was serviced by Washington Mutual Bank.

WaMu Option ARM Lawsuit Fine Print

  • Class members who qualify will receive settlement payment ranging between $239 to $716
  • Nearly 17,000 potential class members have been notified via US Mail
  • The following attorneys have been assigned to represent the class members: Jeffrey K. Berns and Lee A. Weiss of Berns Weiss LLP, J. Mark Moore of Moore & Leviant and Mark R. Cuker of Williams Cuker Berezofsky LLC
  • High prices attorney Warren Burke will defend WaMu

Any and all questions in regards to the WaMu Option ARM class action claim should be directed to (215) 563-4116 or class members can write to: Peel v. BrooksAmerica, et al., Settlement Administrator c/o Angeion Group 1801 Market Street, Suite 660, Philadelphia, PA 19103.