WaMu Pays $9M To Settle Spat With Homeowners

Law360, New York (May 25, 2010, 2:21 PM EDT) -- A group of residential property owners has settled a class action accusing bankrupt Washington Mutual Inc. and its in-house trustee of failing to properly record reconveyances of their home loans.

The plaintiffs lodged their request Monday in the U.S. District Court for the Central District of California, seeking an order dismissing the case with prejudice as well as final permission to distribute the proposed $8.7 million settlement to a class who secured from the bank and its trustee California Reconveyance Co. residential loans from January 2001...
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