Friday, April 8, 2011

What Happens When You File a Complaint with the FDIC against JPMorgan Chase Bank and Washington Mutual Bank

This is the tale of an on-line complaint filed recently with the FDIC as to issues with JPMorgan Chase Bank, N.A., Washington Mutual Bank, F.A. and Washington Mutual Bank "the failed bank."  It comes just as Sheila C. Bair, Chairman of the FDIC appeared on Sixty Minutes to address the "mortgage meltdown."  Here goes this tale that has probably been the same as that of thousands of customers of these aforementioned banksters:

‘Banksters’ is a term seen increasingly in the Blogosphere. It is used to describe the top executives at the “Too Big To Fail” banks and financial institutions. By alliteration, it suggests that these people are gangster-like.  -- And indeed they are!
According to the FDIC's History of WASHINGTON MUTUAL BANK, F.A., the entity using that name, legally changed its name to WASHINGTON MUTUAL BANK on April 4, 2005 and ceased to exist -- it became a "dead bank."  Washington Mutual, Inc. published this information on December 31, 2005 in the 10K filed with the SEC (Securities and Exchange Commission).  As of April 4, 2005 WASHINGTON MUTUAL BANK, F.A. ceased to exist as such and legally could no longer contract in that name.

However, the dead-bank WASHIINGTON MUTUAL BANK, F.A. continued to make loans in that name after April 4, 2005, and in fact listed itself as Lender/Beneficiary in a Deed of Trust in author's name filed in the Alameda County Recorder's Office in Oakland, California in October 2007, 2 1/2 years after WASHINGTON MUTUAL BANK, F.A. ceased to exist. JPMorgan Chase Bank, NA (the alleged successor bank to WASHINGTON MUTUAL BANK) is now foreclosing on homeowners across America citing the beneficiary as one WASHINGTON MUTUAL BANK, FA. 

According to California Civil Code Section 1558:  an entity MUST EXIST (be alive) in order to enter into a contract.  I wanted to know what position the FDIC had on this issue so I filed the complaint to find out.

Today Gary Uchino, Manager of Customer Service for the FDIC in Irvine, California, telephoned me from 949-208-6331 to discuss my complaint.  He stated that he was calling regarding my complaint but that the Office of the Comptroller of the Currency was the regulatory entity for complaints against JPMorgan Chase Bank, N.A.  He asked if my loan was in foreclosure and made a statement that I should have paid my loan.  Any other words -- blame the borrower and throw the borrower under the bus and NEVER do anything about the high crimes, fraud, and misdemeanors being perpetrated by the banksters.

I reminded him that FDIC Chairman Sheila C. Bair was on Sixty Minutes and that she admitted that the banks had made mistakes.  She never used any words such as criminal behavior.  She stated merely that the banks needed to get ahead of the situation -- nothing about criminal prosecutions.

I referred Mr. Uchino back to the issues of Washington Mutual Bank, F.A. and its legal status after 4/4/2005.  He kept coming back to "well if you'd paid . . . "  I reminded him that the big banks have committed egregious acts against borrowers, i.e. robosigning, falsifying documents, just for starters. 
Mr. Uchino provided me with NO INFORMATION.

The result of my complaint is this:
  1. Mr. Uchino will log into the file that I filed a complaint.
  2. No further action will be taken.
  3. Log will show a record of the call.
  4. The log is available to those with access to FDIC records.
  5. In order words my complaint is just so much garbage to the FDIC  -- never mind that I am a taxpayer.
So, Ms. Bair, now you know about the evil doings.  Now you know that the employees of the FDIC just want to throw homeowners under the bus. 



  1. Good article Linda and Jeannie, I have the very same problem, Washington Mutual Bank, FA with both my 1st and 2nd loans, and still trying to foreclose under that name. If this entity is dead and not viable for business, why do judges still allow Chase to foreclose under such illegal practice. Should't the courts realize that according to the Civil Code Section 1558, this party has no standing as a beneficiary! I already filed a complaint with the Office of Thrift and supervision as well as the FDIC, the OCC you name it; none of them care, like said, they just take your complaint, give you a file number and do nothing. A news media about this particular issue is a must, so please count me in. I will send more complaints anyways, but we all need to get together and collectively raise this issue in a big way.


  2. Something is being done about the illegal foreclosure practices. Visit

  3. Thank you for this page. I just posted questions on the same issue on another of your pages, but will repost here with a slight amendment, as more appropriate here:

    1) Given that Washington Mutual Bank, FA (WMBFA) ceased to exist after 4/4/2005, why aren't all deeds of trust with WMBFA as beneficiary, and all promissory notes with WMBFA as promisee, that were "executed" after 4/4/2005, void for failure to have a beneficiary/counterparty? I think they are, especially given the apparent answer to question 3 below.

    2) Many thousands of deeds of trust and promissory notes were drawn up by Washington Mutual Bank (WMB) with WMBFA as beneficiary and promisee AFTER 4/4/2005 (over 20,000 deeds of trust recorded in King County, Washington alone after 4/4/2005, over the course of a couple of years).

    Does anyone know why WMB did this given that it rendered all of these deeds of trust and promissory notes void (well, if someone can get a court to acknowledge that)? My guess is to avoid regulatory oversight related to securitization ... but which regulations?

    3) How could the FDIC have taken into receivership and then sold to JPMorgan Chase, deeds of trust and promissory notes that were made out to a non-existing WMBFA after 4/4/2005? My take is that the FDIC does not have the power to change time, or to bring banks back into existence when they have stopped existing, or to rewrite deeds of trust and promissory notes, and anyway it did not attempt to do any of those things during its one day of receivership. So, how could the FDIC have taken these defective/void documents that could not have belonged to WMB (as they were made out to WMBFA when it it not exist) into receivership? And if never taken into FDIC receivership, how could these deeds of trust and promissory notes have been sold to JPMorgan Chase for a little over one-half-cent on the dollar along with the rest of WMB's assets?

    4) Am I missing something, or... ?

  4. This whole financial crisis could be a big "set the house on fire" and collect the insurance scheme.

    1. that's exactly what it was they were able to take insurance out on your loans and if you failed to pay they were able to collect!

  5. we had a loan with wamu. in 2005 after 7 years of no late payments. they said we had no proof of insurance on our mobile home. our insurance ajent called faxed them several times we faxed phoned certified mail.they still put their insurance on our home and took out of our home payment which made it late. their insurance was 10 times more than we paid and we had the insurance paid for the year.we tried all the federal people and senators the govner of utah.thift supervsion you will find out kerry kilinger was on its board he is aslo ceo of wamu or was at this time. we had already paid almost 35000.00 on the 40000.00 we paid for it wamu sold it for 110000.00. put on our credit repor. wamu did not except any thing from us after i keep bug them. that was also wamu ceo kerry kilinger told no one to except any thing from us. thank you. rkimble.

  6. l got modifications on five adjustable arm loans from wamu,l went from the frying pan into the firer in 09 they gave me interest only for five years then a balloon talk about double jeapordy how can they fail,still no resolution 2 years later fees and lates accuring no workout as of yet,l think they prey on peoples vunerability of not loosing there homes.......

  7. count me in and please post a web site or e-mail address. Chase needs to be stopped with the fraud. We all need to file a million dollars each lawsuit against them discrimination, fraud, etc, etc, etc anything to get them out of business. I have altered documents recorded by chase, no sooner than they left my house (signing) in 2005. When I question them they act as if nothing ever happen. Just send up what you have and we will see what we can do. I did not send documents and they still can not get it together. what can we all do

  8. How can I make a complaints about chase bank so I can get my money back that stock at the Atm?

  9. Complaining seems to be useless. We sent the CFPB complaints for 3 years. The last complaint was about not receiving TILA disclosures. The next thing you know Chase is sending us forged / fabricated TILA docs. I didn't realize the CFPB is part of the Federal Reserve. All they do is forward your complaint to the bank. What the hell is the point of that? I could of sent it to them myself. There are no regulators or enforcers anymore. Its all for show. 20 years ago the banks wouldnt dare do these things and now they just laugh.

  10. The FDIC isn't going to do anything about Chase. They indemnified them and Chase slaps them around and abuses them like a pimp on lazy hooker.

  11. But this complaint didn't go anywhere because they didn't know what they were talking about. WMBFA didn't cease to exist and there is nothing that implies it did. This is what happens when people don't bother reading things for themselves or read them carefully.

  12. Can you believe people are dumb enough to still have bank accounts with these scummy banks?