(I have discovered and now believe the following:)

I find that Washington Mutual commits Fraud by:

1) False Disclosure,
2) violations of RESPA for never answering letters of dispute,
3) illegal accounting that doesn't follow Generally Accepted Accounting Principles
Others Claim WaMu also: (see ebizcritique.com for details - summary below)
Other Sites:
ebizcritique.com WamuFraud.com
DeepInfo.com/wamufraud/
wamu-sucks.com
wamu-sucks.net
www.johnrahn.com/
Save Ahmanson Ranch
Rally4 AhmansonRanch
(Ahmanson court case)
angry WaMu clients
Others
biznetonline.com
Under construction:
wamusucks.com

1) extorts late charges by posting payments far after they're received
2) never returns phone calls or answers letters
3) forces "Escrow accounts" for Property Taxes, despite Deferments
4) Overpays Property Taxes, fails to correct, then puts mortgage payments in "suspense"
5) charges Late Fees for "Early Payments"
6) miscalculates terribly
7) loses payments
8) enrolls you in fee-charging programs without your knowledge
9) long hold times on phone, incompetent help, no follow-up, gives wrong numbers out
10) Law Foundation sued WaMu for "alleged practice of illegally seizing elderly and disabled clients' protected Social Security benefits"
11) gvickner said: "I have never witnessed such incompetence in my life!"

ConsumerAffairs.com: WaMu is "acquiring a growing portfolio of consumer class action suits."

Washington Mutual appears to have explicitly broken 4 Federal Laws:
1) 15 USC § 1601 et seq.: Truth in Lending requires that banks disclose all details of the transaction
2) 12 USC § 1831n(2)(A): Requires banks to follow “Uniform accounting principles consistent with GAAP”
3) 12 USC § 2605 RESPA: requires that banks acknowledge & respond to a “qualified written request”.
4) 15 USC § 1611 Whoever willfully and knowingly (1) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation,
Washington Mutual also appears to have broken State Laws:
1) Business and Professions Code 17200 (for unfair and deceptive business practices),
2) unjust enrichment, 3) breach of fiduciary duty,
4) conversion, 5) negligence and
6) violations of the (WA & CA) Consumer Protection Act

I have found Washington Mutual impossible to work with
Mortgage payments sent in plenty of time were always posted as late, so I have had to go into the Branch and buy a Money Order and have them send it to avoid more late charges. It appears from lawsuits and complaints from others that this is how they make extra money.
I had a Prop. 13/Prop. 58 Property Tax reduction that the LA County Assessor disallowed until I won the appeal. (After that, the Tax Collector just wasn't coordinating with the Assessor yet.) When I wrote Washington Mutual on 11/13/98 about the situation, they refused to answer my letters and paid the Tax Collector the wrong amount, and caused near foreclosure many times by extorting larger payments and late charges, until I got the Tax Collector to refund their overpayment ($3,000).
I have found major irregularities in their Disclosure and Accounting Practices. I started writing them on this in November 2001, and have been writing them since. They overtly break RESPA Law by refusing to even acknowledge my letters (all sent Certified Mail w/ return Receipt), let alone answer them.
I have filed complaints with the BBB and the Federal Office of Thrift Supervision, among others.
Washington Mutual will not answer any letters on any subject!
(This is a Direct Violation of RESPA Law! - Do they want Lawsuits?)

Check Out 9 Major Class Action Lawsuits against Washington Mutual:
1) http://www.mortgagedaily.com/Wamu3-21-01.html (Class Action by Girard & Green, LLP, (in Pierce Co. Sup. Ct, Washington) which alleges “deceptive, unfair and oppressive business practices directed at mortgage loan borrowers”.),
www.classcounsel.com/news/bank_united.cfm (Green, Fauth, and Jigarjian (SF, CA)[formerly Girard & Green]: WaMu "engaged in deceptive, unfair and oppressive business practices directed at mortgage loan borrowers, and breached the mortgage loan contracts which govern their mortgage loan servicing transactions. These practices include failing to post payments received from borrowers in a timely fashion and then charging the borrower a "late charge" and additional interest; imposing improper "property inspection" fees; and failing to respond to borrower complaints or remove improper charges assessed to borrowers")
http://www.classcounsel.com/openfiles/ charges WaMu, et al. "with violations of the Washington Consumer Protection Act, breach of contract, and breach of the duty of good faith and fair dealing"
2) http://www.mortgagedaily.com/WamuClassAction080301.html(Class Action by Cohen, Milstein, Hausfeld & Toll,(in Pierce Co. Sup. Ct, Washington) which alleges “”deceptive, unfair and oppressive business practices directed at mortgage loan borrowers”.),
cmht.com/casewatch/cases/cwwashmut.htm
3) http://www.cmht.com/casewatch/cases/cwwashmut2.htm [1/28/02: Dembowski, et al. v. Washington Mutual Bank, FA, Civil Action No. 02-2-03866-2SEA (Superior Court of Washington State, King County)] For WaMu customers only, that were not with Bank United as well (see Pierce Co suit above)
4) http://www.mortgagedaily.com/Wamu061501.html($71 Million Awarded in Mississippi for "not disclosing insurance premiums included in loan renewals")
5) http://www.lieffcabraser.com/washington_mutual.htm [Sandoval v. Washington Mutual, Inc., et al., pending in Washington state court] (Lieff Cabraser: WaMu "routinely assessed improper property inspection fees in violation of federal regulations, and in breach of its own mortgage contracts. Plaintiffs also allege that Bank United/Washington Mutual regularly assesses improper late fees and finance charges on payments timely made by customers that are received during the contractual fifteen day grace period provided in the mortgage contracts.)"
6) http://www.classactionamerica.com/cases/case.asp?cid=507 (Briseno v Washington Mutual Bank [filed 1/1/98] alleges that the bank victimized at least 25,000 homeowners since 1993 by overcharging for replacement hazard insurance)[1/25/01:CA Supreme Ct gave ruling on how Trial court to handle this]
7) http://www.lawfoundation.org/mhap_success.htm (Law Foundation sued for WaMu's alleged practice of illegally seizing elderly and disabled clients' protected Social Security benefits)
8) http://www.bigclassaction.com/financial.html (for allegedly systematically misapplying funds to work in their favor, as well as other irregularities.)
9) Copy of Suit Brown v. WaMu (LA Co, Sup BC 192874)
PAUL E. BROWN, RONALD L. COURTOIS, MARK A. CHADWELL, WILLIAM D. BARRY, KIM S. REA, JAMES N. MYERS and BONNIE MYERS, et al. vs.
WASHINGTON MUTUAL BANK, F.A., GREAT WESTERN BANK, and AMERICAN SAVINGS BANK,F.A.
"based on nondisclosures and mis-disclosures of defendants (hereinafter collectively "Washington Mutual"), unwittingly paid inflated charges for credit reports, real estate appraisals, flood certification fees, tax service fees, wire transfer fees, express document delivery and/or other loan-related services which exceeded Washington Mutual's actual cost for those services"
"violations of California's UCA"
More on Class Action Lawsuits below


I have filed the following complaints against Washington Mutual:
2/18/02 Complaint # 10256637 to the Better Business Bureau 550 W. Orangethorpe, Placentia, CA 92870
2/20/02 Complaint # 0506642002 to the Office of Thrift Supervision, Dept of the Treasury
1/31/02 Complaint # CAC2002W-002812-0 to the FDIC
3/15/02 Complaint to http://www.ebizcritique.com
To date (3/16/02), Washington Mutual has never responded to any letter, in direct violation of RESPA laws.

You really need to read www.ebizcritiques.com's Reader Complaints.
I wrote about Possible Fraud - WaMu appears to have Violated 4 Federal Laws, including RESPA.
Another wrote: "Washington Mutual purchased my loan about a year ago. I pay my mortgage on the 15th of the month BEFORE it's due i.e. pay March 15th for April 1st payment. I was assessed late fees for several months because the payment was being credited around the 20th of the month (the cut-off day is the 17th). I spent months trying to get this situation sorted out. I was even told not to make my payments ahead of time"
lr9999 wrote: "RUN AWAY SCREAMING FROM THIS HORRIBLE COMPANY!!!!!"
foxtrot18 wrote: "WaMu "lost" payments, refused to give my sister an adress to send return recipt mail to, and tried anything they could to take Their house."
rrtickets wrote: "DO NOT GET INVOLVED WITH THIS COMPANY!!I have been trying to get PMI removed from our loan for 11 months and am no closer to a response from WaMu than when I started even though we meet all their criteria. Every time I call I am given a different number to call or fax my request for PMI deletion and told the previous number I was given was the wrong office. PMI removal office takes no incoming calls and DOES NOT return any calls. These are CROOKS. I WANT A CLASS ACTION"
abuckner wrote: "They cashed 3 consecutive loan payments on our rental property but did not credit our account - They lost a 4th payment"
seaseal wrote: "Washington Mutual acquired my mortgage by buying Great Western. They then paid my property taxes even though I had a deferment."
OnTheRoad wrote: "If there was ever a banking equivalent for 'slamming' (a practice in the telephone industry of enrolling you in fee-charging programs without your knowledge), then WAMU Mortgage would probably be one of the worst offenders."
nysres wrote: "I have been having significant problems with WaMu as a result of them NOT paying my 2001 school tax bill accurately and on time. My town assessor received the payment 2-8-02!!!! Customer service was atrocious (except for 2 out of 12 reps) with lengthy hold times, false complaint phone numbers, and general incompetence. I sent a Letter of Complaint to the Office of Thrift Supervision in CA (via the NYS Banking Dept.), and have placed my name of the pending class action suit."
Anonymous wrote:"I'm a former Fleet mortgage customer. Now Wa Mutual, not by choice. They lost my payment. Much aggravation. I've been making mortgage payments to various banks for over 10 years. Never before have I had this problem. It took 6 phone calls and 2 faxes straighten it out the first time. Now it appears they lost it again.
I believe I should look into the following class action: http://63.77.153.51/C-Loans.html
See Class Action Take Two

http://www.classcounsel.com/firm/caselist.cfm Sandoval v. Washington Mutual, Inc., et al.,
Civil Action No. 01-2-06488-1 (FBH) (Wash. Super. Ct., Pierce County)
Class action alleging deceptive business practices arising out of mortgage loan servicing transactions

http://www.classcounsel.com/news/bank_united.cfm "Washington Mutual and Bank United Alleged to Post Payments Late"
If you have information concerning the mortgage servicing practices of Washington Mutual or Bank United, or to inquire about your own rights, please contact either Jenelle Welling (email: jww@classcounsel.com) or Robert S. Green (email: rsg@classcounsel.com) at the telephone number below.
Green Fauth & Jigarjian, LLP
235 Pine Street, 15th Floor - San Francisco, California 94104
Telephone: 415-477-6700 Fax: 415-477-6710 Email: jww@classcounsel.com
WaMuSux wrote: "Stay away from Washington Mutual. I have never seen more blatant neglegence in my entire life."
Momma2Brien wrote: "problems with WAMU adding late charges to our monthly bills. Putting our money into *suspense because I fail to pay for their mistake of overpaying my taxes. This month they were late but still overpaid. Feel free to contact me at Momma2Brian@aol.com"
jkisraft wrote: "Ever since WaMu took over PNC as the mortgage loan servicer for my home loan (beginning August, 2001) I have not had one payment timely credited to my account. When contacted they usually claim that they did'nt receive the payment. I make my payments on-line through my bank and they maintain records of all payments. I have documented that payments have been received ( proof by signature of WaMu employee of overnight delivery) yet the payment was not posted to my account until two weeks later. I am currently investigating the possibility of a class action lawsuit against this outfit. I have also filed a complaint with the office of thrift supervision to have the Feds investigate the prctices of this company."
Proland wrote: "I was so happy 3 years ago, when I finally cancelled all my accounts with Washington Mutual due to their complete incompetence. Mush to my dismay however, my home mortage loan was purchased by them, and I have to deal with them again!
I have to call them about every other month due to unexplainable late fees and missing payments. The latest headache is the statement I received today. The statement is dated 12/11/01, and imposes a late fee for a payment due 12/17/01. They are charging a late fee 6 days before the payment is due!!! The payment cleared on 12/14/01, so I'll have to call them again. Avoid Washington Mutual at all costs. By the way, there are several class action suits against them for mortgage late fee abuse and inappropriate charges."
nombody wrote: "Don't let them Escrow your taxes"
svickner (vickner@hotmail) wrote: "I have been told that there are over 200 people in our town alone that are going throught the same dilemma. Maybe this is grounds for a class action lawsuit since WAMU is collection our money and not paying our taxes."
gvickner wrote: "I have never witnessed such incompetence in my life!!!!!!!!!!
JIMJOHN wrote: "I have been waiting (not patiently) for almost 5 months for WAMU to apply my payment for July. I have talked to more than 15 people in at least 4 states as has a representative of my bank who is trying to help. They said it would be settled by Oct 19 then I was told they cancelled all work orders because they had too many to handle. Then they opened the work order again and said it would be settled by Nov 9. On Nov 9 they told me they put the w/o on ESCALATE and would put a temporary payment to my account. Another lie. Are these people in financial trouble and holding a bunch of payments to make their cash flow better. My advice if you hear Washington Mutual---- run, don't have anything to do with them."
porear wrote: "Misplaced my funds, I've spent numerous hours on the phone (mostly on hold and getting transferred) and after 5 weeks they still can't correct my balances, even after their "escalation team" was on the job. In the meantime my account shows delinquent."

More Complaints from Others:

(email) justice4me2@yahoo.com at www.angelfire.com/biz2/WashingtonMutual/ says:
"Washington Mutual is Unfair
Boycott Washington Mutual"

"this statement comes from my 15 years of experience in the Banking Industry. I am seeking any and all Ex-Employees of Coast Federal Bank, Home Savings Bank and Washington Mutual Employees that were affected by the Washington Mutual take over of Home Savings. "
"I Feel Washington Mutual Cheated Me, a Single Mother of two, out of over $8,000.00"

Check out More Complaints from many others posted on Angelfire.com
The host (justice4me2@yahoo.com) states: "The Funny thing about this Internet site is that never once has Washington Mutual ever E-mailed us.You would think that with the thousands of vistors that have visited us that Washington Mutual would try to make things right. I really think they don't care! We challenge Washington Mutual to make a rebuttal. "
YosemiDee@aol.com wrote: "I have never had such bad service at a bank before. In early May I received a notice for fees due for my safe deposit box. I hand carried my check into the branch and paid the fee. Mid July I received a LATE NOTICE from Washington Mutual stating that my payment was late and that I owed an additional $5.00 for a late fee. I ordered a copy of my cancelled check and again hand carried it into the branch and spoke with the manager (after having to wait for 30 minute before I was helped.) She made copies of all of my paperwork and said it would be taken care of. This was mid July. I asked the manager at that time to send me a confirmation that my account was cleared. A month later and I still have not received anything from them."
Tonya Yorke wrote: "No one seems to know who is responsible for a debit card transaction that is taken out of the account, put back in, taken out AGAIN, then put back in two times more! The vendor nor the bank could claim responsibility. So, I told them I was going to the bank, withdrawing the balance that they say I have (subtracting outstanding checks) and closing my account. That they better take note because they just screwed themselves out of $200.00 and because they can not tell me who is doing it and that it won't happen again."
Someone wrote: "My residence was mistakenly zoned commercial, not residential by Cook County. Commercial is 33% and Residential is 16%. So for every two dollars I pay in property tax I should be paying one. Now this is not WMs fault. But after court proceedings to get the status of the property changed successfully, I tried to talk this over with WMs tax department. How astonished I was to find out you can only fax them, and I have. Imagine not being able to talk to a very important part of your mortgage company! I have sent them documentation from the courts and requested that my mortgage be recalculated. I have asked to reply by phone, letter or fax. It is as if my request has fallen on deaf ears."
"Krystee" (BettiePage@rhy.com) wrote: "I was stupid enough to open a new account with my divorce settlement. I opened it with a large check--A CERTIFIED LOCAL CASHIER'S CHECK--, this was all I have to support myself and my two year old daughter. They are holding the check for eleven days. They refuse to call the local issuer of the CERTIFIED FUNDS and verify it, so guess what? They are earning interest on my check, I am bouncing checks, but I can't feed my daughter or put gas in my car, simply because they won't perform some basic customer service that ANY OTHER BANK would. Did they tell me this when I opened the account? NO! No matter who I call, no one will help me, this is their policy and they stand by it."
"Lindsay Davis" (ldavis44@hotmail.com) wrote: "I decided to open up a "Free" account at Washington Mutual, and within 4 weeks of doing so, I received a letter stating that Washington Mutual was closing my account. The letter gave no reason or explanation whatsoever as to why my account was being closed."
"letsgo420" wrote: "July they deducted a check from my account twice. This caused me to be off in my books, thus in turn one bad check turned into many over the months. When all of a sudden I was over 600.00 over drawn I went in and requested a total print out of my statement, which over three months was a total of 340.00 in just bounced check fees. This took me days to go over and trace back, only to find the cause of the missing money was their fault. Washington Mutual was not very helpful"
NEENEE510@aol.com wrote: "if you deposit through the ATM" ... "they are holding those funds for 2 WEEKS!!!! Forget living paycheck to paycheck. I called my bank" ... "this morning again and talked to someone in the branch. I said to her,"This just started happening didnt it?" She agreed. I then asked,"Did anyone ever send us customers notice that this was happening?" The answer was ,"No" But, yet they take a fee of $18.00 for there incompetance. Its not posted on the ATM that they hold it for 2 WEEKS EVEN. WASHINGTON MUTUAL DOES NOT CARE FOR ITS NEW CUSTOMERS THAT THEY BUY THROUGH THESE SUCKY MERGERS!! I AM TAKING MY $ SOMEWHERE ELSE."
Jeff Brill (of South Florida Water Management District) wrote: "WE HAVE ALWAYS HAD GOOD CREDIT. WASHINGTON MU, DENIED OUR APPLLICATIONS BECAUSE THEY CLAIM I HAVE NO JOB, AND WE HAVE BAD CREDIT. THIS IS BULL SHIT, MY PAY CHECK IS DEPOSITED INTO A ACCOUNT IN WASHINGTON MU. ALSO OUR CHECKING ACCOUNT IS THERE AND THEY CAN SEE DAM WELL THAT WE PAY OUR BILLS, WE GET OFFERS FROM OTHER OUT OF STATE BANKS FOR CREDIT LINES. SO WHY CAN'T WE GET THE LINE OF CREDIT SIMPLE MY WIFE AND I ARE MINORITY"


Analyzing:
Consumer Financial Litigation: Ca Bus&Prof Code 17200 Claims (Claims may be predicated on violations of Federal Law and maintained in State Court.

More Class Action lawsuits:
http://www.coudert.com/practice/washmutualarticle.htm (Washington Mut. Bank v Superior Court (2001) 24 C4th 906, 103 CR2d 320, could be greeted as a victory for class action defendants. First, it forces trial courts to take a hard look at the commonality and manageability issues at the class certification stage, rather than postponing that examination until a motion for class decertification. Second, it suggests that California courts should not bear the burden and expense of nationwide class actions, but that class action plaintiffs should seek redress—at least for some claims—on a state-by-state basis. Third, by permitting enforcement of choice-of-law provisions in adhesion contracts, the decision encourages consumer-related companies to do business in California because they need not fear that choice-of-law provisions will necessarily be ignored.)
http://www.cmht.com/casewatch/consumer/washmut.html [Cohen, et al above] (2 articles: Litigation Against Washington Mutual Bank Pursued By Homeowners Whose Mortgages Have Been Improperly Processed - March 6, 2002
cmht.com/casewatch/cases/cwwashmut2.htm Cohen Milstein Representing Plaintiff in Litigation Against Washington Mutual (only) for Predatory Practices in Mortgage Services
cmht.com/casewatch/cases/cwwashmut.htm Cohen Milstein Representing Plaintiff in Litigation Against Washington Mutual and Bank United Corp. for Predatory Practices in Mortgage Services
http://seattlepi.nwsource.com/business/56299_wamu30.shtml [Green, Fauth, et al above] (class action on behalf of homeowners nationwide. The lawyers claim that Washington Mutual fails to process mortgage payments on time, doesn't properly handle electronic payments and neglects to maintain accurate records.)
http://www.dearborn.com/download/calawcases/Chapter10.htm (Washington Mutual Bank v. Superior Court (1999) 75 C.A.4th 773.
This case was a class action suit alleging that Washington Mutual Bank inflated charges beyond actual costs for loan-related services. As an example, $50 was charged for a credit report that only cost $15. Charges were also allegedly inflated for tax services, flood certification, wire transfers, appraisals and recording. The class action suit sought damages for unfair and deceptive business practices (Business and Professions Code 17200), unjust enrichment, breach of fiduciary duty, conversion and negligence.
The lender filed a demurer arguing that state law claims should be dismissed since RESPA and Regulation X (good faith estimate) preempt state law and neither provides for a private right of action for violations. Washington Mutual took the position that there was no prohibition against adding a charge to the actual costs.
The Superior Court ruled that RESPA and Regulation X do not preempt state law. This decision was affirmed by the Court of Appeal The case was remanded to trial on its merits.
The Court of Appeal noted that state laws are preempted only if they are inconsistent with RESPA or Regulation X. Congress had declared that no state law shall be determined inconsistent if it provides greater protection to the consumer.)
http://freecaselaw.com/ca/G023218.htm Order to Publish
http://freecaselaw.com/ca/G023218M.htm (request that the opinion be depublished is DENIED.)
http://www.mortgagedaily.com/WamuDimeClosing010702.html
(""We sent them a payment and had it returned due to 'no loan Number written on the check' and charges followed," wrote a Medford, Oregon borrower. "We sent them our check again and once again they returned it as they wouldn't accept it because now it was a 'partial' payment compared to the Legal and collection charges they imposed upon our loan.")
("One borrower copied MortgageDaily.com on a letter to WaMu's CEO, Kerry Killinger, suggesting that WaMu's lack of response to her requests have only made her delinquency worse. She further suggested that WaMu uses chronically late paying borrowers as "a reliable source of revenue for companies as Washington Mutual, which reap millions of dollars in late fees.")
http://www.bigclassaction.com/alphabetical.html (Join suit for Washington Mutual (misapplying funds to work in their favor))
http://www.spacecoasthomes.com/financing/bruss/law/1999/law1212.htm (in Florida Court, Judge allows borrowers to sue lenders - class action borrowers sued for damages due to (1) unfair and deceptive business practices, (2) unjust enrichment, (3) breach of fiduciary duty, (4) conversion, and (5) negligence.
Washington Mutual argued that the claims should be dismissed because the federal Real Estate Settlement and Procedures Act preempts state laws and there is no federal private right of action for RESPA violations. Washington Mutual also argued that RESPA does not prohibit lenders from adding extra charges onto the actual costs of services obtained from third parties such as credit bureaus.
IF YOU WERE THE JUDGE would you rule the federal RESPA law prohibits home loan borrowers from suing lenders in state courts for overcharges?
The judge said NO!
The primary purposes of RESPA, the judge explained, are to prevent illegal kickbacks and rebates, as well as to inform home loan borrowers of their complete costs. These disclosures are made to borrowers on HUD-1 forms, he noted.
Neither RESPA nor Regulation X, which sets out the rules for the good faith estimate of loan charges, expressly preempts private borrower rights of action under state laws for violations, he emphasized. If borrowers were prohibited from suing lenders in state courts for alleged disclosure violations, consumers would be left without any practical legal remedy, since RESPA does not establish a private right of action under federal law, the judge added.
More on RESPA Law in California:
www.courtinfo.ca.gov/opinions/nonpub/D027378A.DOC (LA unpublished)
www.onlinedocuments.com/library/newsletters/Apr2000.pdf (HUD's Q&A Answers to RESPA issues in Calif Court Case Brown v. Washington Mutual Bank, FA) Copy of Suit Brown v. WaMu (LA Co, Sup BC 192874)
For More On Class Action Lawsuits against Washington Mutual, search on Google or AltaVista, etc:
Google search for +"washington mutual" +"class action"


More about what I have discovered, which lawyers have not yet raised in the current Lawsuits:

Washington Mutual Mortgages are funded by Exchanges not Loans

When I entered into the Mortgage, I thought that the Bank was "Loaning" me funds from Depositors.
I thought that because there was a risk to Depositor funds, the interest rate charged was justified.
Most others believe the same, and this is considered "Generally Accepted Accounting Principles" (GAAP) by CPAs and other accountants.
The agreement called for a repayment of over $300,000 over a period of 30 years for a "Loan" of $144,000. Is this usurious, if they never lent me their own money, and risked nothing?

After reading Tom Schauf's Books at BankFreedom.com,
I got and studied Booklets published by the Federal Reserve banks themselves.

In these Booklets, I learned that the Bank RISKED NO CAPITAL.

Tom Schauf is a CPA & an expert lecturer on Banking,
but the Booklets themselves tell the truth of the nature of the agreement.

I have learned that Banks can Deposit my Promissory Note into an account and take that money and hand it back to me. This is an exchange, not a loan. The Promissory Note that I gave them was the instrument that was deposited to create the money that was given to me. This was an exchange, not a loan of Depositors' money: no Bank Capital was risked.

Washington Mutual gives (false) Disclosure that the agreement is a "Loan", but it is not; it is an exchange of money from the value of the Promissory Note deposited into an account.

Full Disclosure was not made of the nature of the transaction.

Because the Nature of the Transaction is contrary to GAAP (Generally Accepted Accounting Principles), and is against what the public believes in general, I believe this non-Disclosure of the true nature of the transaction is FRAUD.

I firmly believe that the public needs to know about this deception, and I believe that a jury would be appalled to learn of this massive deception. I believe it is necessary for someone to properly use Discovery in a court of Law and set precedent in Federal Court, especially in Appellate Court. If possible, this should be brought to the Supreme Court.

To Complicate the Situation, Washington Mutual is breaking RESPA laws, because it is apparently afraid to answer my questions. I have been asking Washington Mutual questions about these matters since November 2001, and they refuse to answer. RESPA requires them to acknowledge my letters and clarify the dispute. They appear to prefer to break the law than to answer my letters.


If you want to know why there is no Capital for Investment left in the US, look at the "unconstitutional" Federal Reserve, a privately-owned institutions that has extorted money from everyone since 1913. This will tell you why the economy is failing. Keynesian economics doesn't work - Read books by Ludwig von Mises and the Austrian School of Economics.
(Read about
Billions for the Bankers - Debts for the People)
For more info on the Federal Reserve, go to DeepInfo.com, especially Fed & Fed2
On May 23, 1933, Congressman Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON. Read Details
Read about Billions for the Bankers - Debts for the People

Email me with your horror stories at jimk@cyberdude.com