Washington Mutual Articles

Seattle, WA: The Securities and Exchange Commission (SEC) is now investigating allegations about Washington Mutual's practice of inflating home appraisals. The SEC's investigation will look at whether WaMu accurately told investors how its loans were appraised and whether the company's loans were properly disclosed to investors.

Piscataway, NJ: More and more homeowners are complaining that they were given inflated appraisals on the value of their homes by Washington Mutual. The problem is that now they owe more on the home than what it is actually worth, and with the housing market dropping, many are facing foreclosure.

New York, NY: Washington Mutual faces a class action lawsuit alleging the company committed securities fraud by over-inflating home appraisals while also inflating prices. The lawsuit follows a complaint filed by the New York Attorney General's office that names Washington Mutual as pressuring other companies to provide inflated home appraisals.

New York, NY: It has been a week of tumult and turmoil for Washington Mutual and First American, since New York State Attorney General Andrew Cuomo initiated a lawsuit against First American and its real estate appraisal arm, eAppraiseIT alleging an illegal practice of inflating the values of homes to qualify for loans.

New York, NY: A lawsuit filed November 1st against First American Corp. alleges that the Santa Ana California-based mortgage appraiser illegally inflated the values of homes qualifying for mortgage loans at the behest of Washington Mutual. The result suggests that many homeowners may have overpaid for their homes.