Judge Lets FDIC's Breach Claim Arising From Loan Appraisal Agreement Survive

Judge Lets FDIC's Breach Claim Arising From Loan Appraisal Agreement Survive

SANTA ANA, Calif. - A federal judge in California on April 25 declined to dismiss a breach of contract count arising from appraisal services in a suit filed by the Federal Deposit Insurance Corp. as the receiver for Washington Mutual Bank (WaMu), finding that a written contract requirement was designed only to protect the bank (Federal Deposit Insurance Corporation v. LSI Appraisal LLC, et al.,  No. 11-00706, C.D. Calif.; 2012 U.S. Dist. LEXIS 58008).

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