In Brief: Wamu Hit by Suit of Thrift It Bought

August 06, 2001, 1:00 a.m. EDT 1 Min Read

SEATTLE Attorneys for former mortgage customers of Bank United Corp. are suing Washington Mutual Inc., which bought the Texas thrift in February.

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The law firm of Cohen, Milstein, Hausfeld & Toll PLLC said in a press statement Friday that it had filed a class action in Pierce County Superior Court in Washington for borrowers who are claiming that Bank United of Texas, a subsidiary of Bank United, engaged in deceptive, unfair, and oppressive business practices and breached the mortgage loan contracts which govern their mortgage loan servicing transactions.

Bank United was the fourth-largest depository institution in Texas at the time Wamu bought it.

A Washington Mutual spokeswoman was not immediately available to comment.

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