FDIC's $129M Suit Over WaMu Losses Trimmed

Law360, New York (November 17, 2011, 5:32 PM EST) -- A California federal judge on Monday trimmed the Federal Deposit Insurance Corp.'s $129 million suit accusing a group of loan appraisal firms of leading bankrupt Washington Mutual Inc. into mortgage loan losses by offering it inexperienced appraisers.

U.S. District Judge David O. Carter rejected the FDIC’s bid for claims including gross negligence against CoreLogic Valuation Services LLC, but preserved certain breach of contract claims against the company and its real estate arm CoreLogic Real Estate Solutions.

“We believe that the ruling on the motion to dismiss...
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