Court Rules Unrecorded Mortgages Received Through The FDIC Receivership Of WaMu Are Voidable

http://www.mfi-miami.com/2012/12/michigan-supreme-court-rules-3-75-billion-of-jpm-chase-held-mortgages-are-voidable/

On the Friday before Christmas, while the media was focused on the funerals of the victims of the Sandy Hook massacre and pre-Christmas retail sales figures, the Michigan Supreme Court quietly handed down a significant ruling that will affect nearly $3.75 billion worth of mortgages former Washington Mutual mortgages that JPMorgan Chase acquired from the FDIC after Washington Mutual went into FDIC receivership in 2008. The Michigan Supreme Court upheld a Michigan Court of Appeals ruling from January that calls for a strict interpretation of a Michigan law that states that if a foreclosing party is not the originating note holder they must be able to show a record chain of the mortgage