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Katy Sullivan, Also Known As Katy Marie Sullivan v. Washington Mutual Bank

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA


March 2, 2011

KATY SULLIVAN, ALSO KNOWN AS KATY MARIE SULLIVAN, PLAINTIFF,
v.
WASHINGTON MUTUAL BANK, FA, JP MORGAN CHASE BANK, NATIONAL ASSOCIATION, BANK OF AMERICA, NATIONAL ASSOCIATION, CALIFORNIA RECONVEYANCE COMPANY; AND DOES 1 THROUGH 50, INCLUSIVE, DEFENDANTS.

The opinion of the court was delivered by: Judge: Hon. Edward M. Chen

MITH S C ORPORATION NGELES LVARADO ROFESSIONAL A OS L

UPDATED JOINT CASE MANAGEMENT STATEMENT ; ORDER RESETTING CMC

DATE: March 9, 2011

TIME: 2:30 p.m. C RTRM C Action Filed: April 22, 2009

TO THE CLERK OF THE ABOVE-ENTITLED COURT:

Defendants JPMorgan Chase Bank, N.A. ("JPMorgan"), California Reconveyance Company ("CRC") and Bank of America, National Association, as successor by merger to LaSalle Bank NA 4 as trustee for WaMu Mortgage Pass-Through Certificates Series 2006-AR9 Trust ("B of A") (together, "Defendants"), along with plaintiff Katy Sullivan ("Plaintiff")(collectively the "Parties"), 6 hereby submit this Updated Joint Case Management Statement.

1. Jurisdiction and Service

Plaintiff has named the following as defendants: WASHINGTON MUTUAL BANK, FA, JPMORGAN CHASE BANK, National Association,BANK OF AMERICA, National Association, LASALLE BANK, National Association, CALIFORNIA RECONVEYANCE COMPANY; and Does 1 through 50, inclusive.

This court has jurisdiction, because Plaintiff, in the initial complaint, alleges violations of the Federal Truth in Lending Act ("TILA"). (See Second Amended Complaint.)

2. Status of the Case and Changes Since Previous Joint Statement:

Plaintiff seeks statutory damages under TILA, as well as general damages. Plaintiff also

seeks rescission under TILA. According to Plaintiff, Defendants failed to make certain disclosures required under the TILA at the time the subject loan was issued to Plaintiff, and thereafter. Plaintiff 18 also contends that Defendants falsely represented the nature of the subject loan. Defendants deny 19 these allegations and contend that they did not participate in the origination process which is the 20 subject of Plaintiff's legal action.

LVARADO C ROFESSIONAL MITHS ORPORATION NGELES A OS L A P A

A. Motions:

Defendants may bring a motion for summary judgment pursuant to FRCP 56.

B. Discovery:

The parties have exchanged limited written discovery, however such discovery is currently stayed in order to attempt sale of one unit of the property's two condominium and thereafter resolve 26 the action. Discovery, as a result, is not pending as to do so would be to expand attorney's fees hopefully unnecessarily.

C. Settlement and ADR:

The parties have made efforts to mediate and settle the matter, and there is passive agreement that the best avenue for potential settlement is to market one of the two existing, approved condominium units at the property, both of which are approved, legal condominium units. Upon a sale, the parties will embark on settlement negotiations in an attempt to resolve the remaining issues in this litigation based, in part, on a partial pay-down of the outstanding subject bank loan from the net sale proceeds of the unit.

Plaintiff reports in this Joint Statement that one unit of the property has been marketed for sale, since soon after the most recent Case Management Conference. Plaintiff and one set of prospective buyers were in negotiation for a purchase; since those buyers were the existing occupants of that unit, they were believed to present the most promising potential buyer (they had expressed interest in the unit prior to the parties' existing settlement posture herein). Unfortunately, that sale negotiation fell through within the past week as a result of an inability to arrive at agreed terms for the construction of a garage in the basement area of the building. The large financialexpenditure necessary to do so made the sale essentially unavailable. Plaintiff is continuing with her marketing efforts, including an open house within the past week, together with a price reduction.

MITH S C ORPORATION LVARADO ROFESSIONAL NGELES OS L A A

showing of the house occurred on Sunday, February 28, and 11 parties came through the listed 18 condominium. Although no offers have yet resulted from that particular showing, simply the 19 number of interested parties is seen to be a positive indication.

The parties have conferred regarding their desired processing of this litigation in view of the above information. It is believed by both that a continued period for marketing of the property is in the likely best interest of both sides and so jointly request the court to continue this case management conference for a further 90 days to see what developments may be attainable in the sale 5 of the condominium unit. It is believed the economy is improving, albeit slowly, and that a further

90 days is a reasonable period of time to continue with sale efforts.

Respectfully submitted,

DATED: March 2, 2011

By: BRIAN MCCAULEY, ESQ.. Attorneys for Plaintiff, KATY SULLIVAN DATED: March 2, 2011 A MITH S LVARADO A Professional Corporation By: PATRICIO A. MARQUEZ Attorneys for Defendants JPMORGAN CHASE BANK, N.A., CALIFORNIA RECONVEYANCE COMPANY and BANK OF AMERICA, NATIONAL ASSOCIATION, as successor by merger to LaSalle Bank NA as trustee for WaMu Mortgage Pass-Through Certificates Series 2006-AR9 Trust

MITH S ORPORATION LVARADO NGELES ROFESSIONAL

IT IS SO ORDERED that the status conference set for 3/9/11 at 2:30 p.m. is reset for 6/15/11 at 2:30 p.m. An updated joint status report shall be filed by 6/8/11.

D TES ISTRI A CT S T C O

Edward M. Chen U.S. Magistrate Judge

D U E R I T T

N IT IS SO ORDERED

N Edward M. Chen R R Judge

U AS MODIFIED A I N O O T L I F RN F C H E A DIS C O TRI T 3

20110302

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