Spears et al v. Washington Mutual | Federal District Court Judge Grants Class Certification in Mortgage Appraisal Suit

The United States District Court for the Northern District of California granted class certification in a mortgage loan appraisal suit alleging defendants conspired to inflate appraisals to increase the sale of loans in the secondary market. The Court found that plaintiffs presented sufficient evidence to establish common questions of fact and law, holding that common questions and answers need not uniformly apply to all class members. The Court also found that the analysis of individual appraisal fees would not create individualized issues, but instead would provide additional support for plaintiffs’ claims that an inflated appraisal scheme existed. Finally, the Court also held that the Real Estate Settlement Procedures Act’s treble damages, attorney’s fees and government enforcement mechanisms did not make class action an inferior method of litigation.

Click here for the opinion. (Document 249)

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Case5:08-cv-00868-RMW Document197 Filed05/25/10 Page1 of 33

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN JOSE DIVISION

FELTON A. SPEARS, JR. and SIDNEY

SCHOLL, on behalf ofthemselves and all

others similarly situated,

Plaintiffs,

vs.

FIRST AMERICAN EAPPRAISEIT,

(alk/a eAppraiseIT, LLC),

a Delaware limited liability company,

Defendant.

CLASS ACTION

PLAINTIFFS’ NOTICE OF MOTION,

MOTION FOR CLASS CERTIFICATION

AND MEMORANDUM IN SUPPORT

DATE: July 2, 2010

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CASE FILE California Class Action