Judge Certifies Class Over Alleged Inflated Appraisal Conspiracy

Judge Certifies Class Over Alleged Inflated Appraisal Conspiracy

SAN JOSE, Calif. - A federal judge in California on April 25 certified a nationwide class for borrowers who obtained a mortgage loan through Washington Mutual Bank FA (WMB) since June 2006 in which the lender obtained appraisals through eAppraiseIT LLC after finding that the plaintiffs sufficiently demonstrated that proof of an alleged conspiracy can be proven on a classwide basis and that common proof can be used to determine inflation in the aggregate (Felton A. Spears, et al. v. First American EAppraiseIT, a/k/a eAppraiseIT LLC, No. C-08-00868 RMW, N.D. Calif.). Subscribers may view the order available within the full update.

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