Four Counts of Claims for Relief

Count I - Breach of Contract

Chase's actions constitute a breach of contract with individual mortgagors. It also violates Chase's obligation of "good faith and fair dealing" in its relationship with you. Chase also breached by not appropriately crediting accounts, or using "suspense" accounts, which are illegal.

Count II - TILA (Truth in Lending Act)

Under the Truth in Lending Act and Regulation Z, which apply to consumer credit transactions, Chase failed to deliver mortgagor's two copies of the notice of right to rescind, which:

• IIdentified the transaction
• Clearly and conspicuously disclosed security interest in your principal dwelling
• Clearly and conspicuously disclosed right to rescind the transaction
• Clearly and conspicuously disclosed how to exercise your right to rescind by providing a form for that purpose, addressed to Chase's place of business
• Clearly and conspicuously disclosed effects of the rescission
• Clearly and conspicuously disclosed date of expiration of the rescind period

Count III - Breach of Fiduciary Duty

• Chase used suspense accounts and acted as a "trustee", which violated Chase's duty to act within the bounds of contractual authorization (it was not authorized to retain partial payments in this manner).
• Chase retained interest on the funds in the suspense accounts - never letting people know their money was being handled in this way - and unjustly benefited from these practices.

Count IV - Relief

• Chase must account for its earnings that came from improper use of people's funds and pay all members of the suit these earnings.
• Judgment is being entered for actual and individual damages.