According to the complaint, the trust purchased the residential property—located at 9354 Arborwood Circle in Davie, Florida—on March 15, 2024, through a homeowners’ association foreclosure. The home remained encumbered by two loans: a first mortgage and a HELOC, both originally issued by Washington Mutual. The plaintiff says that Chase acquired both loans after Washington Mutual’s failure in 2008.
Soon after the acquisition, the plaintiff says it asked Chase for payoff statements to clear the liens. On March 22, 2024, Chase allegedly provided a payoff statement for the HELOC showing a total payoff amount of $33,326.79, including a $7,301.61 charge labeled “Corporate Advance Balance.” The complaint states that this charge was not itemized or explained and was not authorized by the HELOC agreement.
The plaintiff claims the payoff statement didn’t break down what the “Corporate Advance” was for, when the charges were incurred, or how they were calculated. The document included no information about whether the charges could be disputed.
Between May 20, 2024, and May 13, 2025, the trust says it made multiple additional written requests for updated payoff statements. In one response dated June 10, 2024, Chase allegedly told the trust to contact the former property owner, Steven Smith, for a copy—despite the trust having already provided a certificate of title and proof of ownership.
Chase did provide a payoff for the first mortgage on June 11, 2024, which the trust paid. A satisfaction of mortgage for the first loan was recorded around July 12. But the complaint says no updated payoff was ever issued for the HELOC.