official notice - Hofstetter et al. v. Chase Home Finance et al._ No. 10 by wangnianwu

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									                                               OFFICIAL NOTICE
                                FROM THE UNITED STATES DISTRICT COURT
                               FOR THE NORTHERN DISTRICT OF CALIFORNIA
       Hofstetter and Modersbach v. Chase Home Finance and JPMorgan Chase Bank (10-1313 WHA)
This is an important notice from the United States District Court advising you that your rights and obligations are
being litigated. A class action in this court concerns the extent to which you must carry flood insurance and/or are entitled
to a refund in connection with your home-equity line of credit with Chase Home Finance or JPMorgan Chase Bank. This
notice was sent by the Court. It is not a solicitation from a lawyer or a bank.

                                               *            *          *
You have two options. If you fit within any of the class definitions below, you may do nothing and be part of the class action,
or you may “opt out” of the proceedings so that you will not be part of the class action.
If you stay in the class action, then your rights and obligations will be determined in the class action proceeding. You will
share in any benefit the classes may receive, and you will give up the right to sue Chase Home Finance or JPMorgan Chase
Bank on your own for the same legal claims.
If you opt out of the class action, then your rights and obligations will not be determined in the class action proceeding. You
will not share in any benefit the classes may receive, but you would keep the right to sue Chase Home Finance or JPMorgan
Chase Bank on your own for the same legal claims.
The procedure for opting out is described below.

                                               *            *          *
The Court has certified four different classes in this class action. Some class members will belong to more than one class.
The four classes are defined as follows:
1.    The following nationwide class has been certified to seek (a) a declaration that Chase Home Finance and JPMorgan
      Chase Bank violated a federal law by changing credit-agreement terms, and (b) an injunction to prevent them from
      violating that law again:
            All persons who originated a home-equity line of credit with JPMorgan Chase Bank, N.A. before
            December 23, 2009 that was secured by residential property in the United States, that was not
            closed before this action commenced on March 29, 2010, and whose signed credit agreement did not
            require that the property be covered by an amount of flood insurance equal to the lesser of the full
            replacement cost value of the property or the maximum amount of insurance available through the
            National Flood Insurance Program.
2.    The following nationwide class has been certified to seek money damages from Chase Home Finance and JPMorgan
      Chase Bank based on the claim that they violated a federal law by changing credit-agreement terms:
            All persons who originated a home-equity line of credit with JPMorgan Chase Bank, N.A. before
            December 23, 2009 that was secured by residential property in the United States, and were required
            by Chase Bank or its agents or affiliates to purchase or maintain flood insurance on the property with
            a coverage amount larger than the maximum limit on the line of credit, on or after December 23,
            2009.
3.    The following California class has been certified to seek (a) a declaration that Chase Home Finance and JPMorgan
      Chase Bank violated a California law by requiring home-equity-line customers to buy too much flood insurance, and
      (b) an injunction to prevent them from violating that law again:
            All persons who have or had a home-equity line of credit with JPMorgan Chase Bank, N.A. or Chase
            Home Finance, LLC secured by their residential property in the State of California, that was not
            closed before this action commenced on March 29, 2010, and who were informed by Chase Bank
            or Chase Home Finance that the property must be covered by an amount of flood insurance equal
            to the lesser of the full replacement cost value of the property or the maximum amount of insurance
            available through the National Flood Insurance Program, between March 29, 2006, and the date of
            final disposition of this action.
      If this class succeeds on its claim, then it may also be allowed to seek monetary restitution.
4.    The following California class been certified to seek (a) a declaration that Chase Home Finance and JPMorgan
      Chase Bank violated a California law by receiving improper financial gains in connection with force placing flood
      insurance on its home-equity-line customers, and (b) an injunction to prevent them from violating that law again:
             All persons who have or had a home-equity line of credit with JPMorgan Chase Bank, N.A. or
             Chase Home Finance, LLC secured by their residential property in the State of California, and
             had flood insurance force-placed upon the property by Chase Bank or Chase Home Finance,
             between March 29, 2006, and the date of final disposition of this action.
      If this class succeeds on its claim, then it may also be allowed to seek monetary restitution.

                                                    *            *            *
You are receiving this notice because you may belong to the first and/or second class identified above. A similar notice
was sent to other class members the week of May 16-20, 2011, but was not sent to you because of an inadvertant error
by Chase in identifying the individuals who were included in the Court’s class definitions. If you do not want to be
part of the class action, then you must opt out by doing the following. Send the class administrator a letter or post
card stating “I wish to opt out of the class action against Chase Home Finance and JPMorgan Chase Bank, case number
10-1313 WHA.” The letter or post card must include your name, address, telephone number, email address, and account
number(s) for your home-equity line(s) of credit with Chase Home Finance or JPMorgan Chase Bank. Keep a copy. You
must sign your opt-out letter or post card. It must be postmarked on or before October 11, 2011, and must be mailed to the
class administrator at this address:
                                                         Analytics, Inc.
                                                  Flood Insurance Class Action
                                                         P.O. Box 2009
                                                  Chanhassen, MN 55317-2009
If you do not opt out of this class action, your claims will either be settled in the future or they will proceed to trial. If there is
a proposed settlement in the future which includes your claims, you will receive an additional notice outlining the terms of that
proposed settlement.
In determining whether you wish to be a part of this class action or opt out, you should be aware the Court has preliminarily
approved a settlement agreement that relates to the claims of other class members who received notice of this class action
the week of May 16-20, 2011. Your claims were not included in that proposed settlement agreement because Chase
did not identify you as a class member prior to the time that the parties reached that proposed settlement. Accordingly,
you will not receive any benefits or give up any rights under that proposed settlement. However, if you would like more
information regarding that proposed settlement, you may visit www.chasefloodinsurancelitigation.com or may contact the
class administrator at 1-877-314-3557 or at the address listed above. On November 7, 2011, at 3:00 p.m., in Courtroom
8 on the 19th Floor of the United States Courthouse, 450 Golden Gate Avenue, San Francisco, California, the Court will
hold a fairness hearing to determine whether to grant final approval of the proposed settlement for the other class members.
If you would like further information about this class action, you should visit the website www.chasefloodinsurancelitigation.com.
If the website does not answer all of your questions, then you should contact the class administrator. You may write to the
class administrator at the address above, or you may call the class administrator at 1-877-314-3557. Please do not send
any questions to the Court.

								
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