WA State Court Denies MTD "Unfair Deceptive Acts, Fraud, Securitization, Trustee Aiding & Abetting" | VILLALOBOS v. DEUTSCHE BANK, BARCLAYS

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WA State Court Denies MTD “Unfair Deceptive Acts, Fraud, Securitization, Trustee Aiding & Abetting” | VILLALOBOS v. DEUTSCHE BANK, BARCLAYS

WA State Court Denies MTD “Unfair Deceptive Acts, Fraud, Securitization, Trustee Aiding & Abetting” | VILLALOBOS v. DEUTSCHE BANK, BARCLAYS

UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

MARCO VILLALOBOS & ANGELA
YBARRA,
a marital community,
Plaintiffs,

v.

DEUTSCHE BANK NATIONAL TRUST
COMPANY, BARCLAYS CAPITAL REAL
ESTATE, INC.
, et al.,
Defendants.

EXCERPTS:

B. Substantive Claims

Plaintiffs’ claims which sound in the Washington State Consumer Protection Act survive. Plaintiffs have successfully alleged that certain named defendants committed unfair deceptive acts and that these acts have injured their property interest in their home. See Guijosa, 32 P.3d at 255 (listing elements). It goes without saying that such acts have the potential to adversely affect the public interest: The banking defendants allegedly securitized more than three billion dollars of mortgages initiated by Defendant WMC Mortgage alone. The allegedly wrongful acts were therefore “part of a pattern or generalized course of conduct,” and had the potential “to affect many different customers.” See Hangman Ridge, 719 P.2d at 537–38.

Plaintiffs claims which sound in the common law of fraud also survive. Plaintiffs allege that certain named defendants misrepresented terms such as the interest rate and term of their mortgage loans. (Second Amended Complaint 13–16 (Dkt. No. 45)). Plaintiffs further allege that defendants fraudulently charged them for brokerage fees to which they were unentitled, and that the defendants listed these fees as “final settlement fees” on federal disclosure forms. (Id. 15). A reasonable person would consider such key terms to be “material,” and a reasonable person would be entitled to rely on the representations of individuals who hold themselves out as mortgage professionals. See Beckendorf, 457 P.2d at 606–07 (listing the elements of fraud).

C. Theories of Liability

However one wishes to describe the allegedly wrongful participation of Defendant Barclays Capital and Defendant Deutsche Bank—whether sounding in civil conspiracy, aiding and abetting, or joint venture—the analysis is essentially the same: Plaintiffs have successfully alleged that the banking defendants knowingly participated in a scheme to defraud borrowers. To support these allegations, Plaintiffs rely on a letter from the Office of the Comptroller of the Currency and fraudulent misstatements in the loan documents that the banking defendants received. Because a plaintiff may rely upon circumstantial evidence to support each of the proffered theories of liability, see, e.g., Gilbrook, 177 F.3d at 856 (civil conspiracy), Refrigeration Engineering, 486 P.2d at 311 (joint venture), and because Plaintiffs have submitted circumstantial evidence tending to indicate that the banking defendants knowingly participated in a scheme to defraud, their claims survive.

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One Response to “WA State Court Denies MTD “Unfair Deceptive Acts, Fraud, Securitization, Trustee Aiding & Abetting” | VILLALOBOS v. DEUTSCHE BANK, BARCLAYS”

  1. stay in your home citywide says:

    They do this also. The problem we have is the States are privatizing securitization. They are now resecuritizing these defective loans. They push the homeowners into bankrupcy and let the courts do the dirty work. The Procurement Center for the Courts or Consus Group is Replacement Services, LLc.
    These are very fraudulent acts , wirefraud among other things.
    They have implimented Cointelpro tactics as well. They will place you under survilience.
    Ed Fisher shom is the endorser of the Note is the Director of the Centene Corporation and doctor at Washington University.
    it is all complete fraud. When did he become MetLife or First Horizon?
    They continiously send these people in to follow and harras you.
    Blantant Fraud. The advocacy groups are just as fraudulent as any other. Homeowner who claims her home was foreclosed on fraudulently by Wellsfargo , living in her home for over 20 years is a Blantant Liar, The documents in the Recorders office show clearly this home was refinanced three times, each time without her signature. The problem here is I am aware of the writter of this document and it is not her. Why didn;t she see this was not her signature?

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