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Appraisal Lawsuits Third-Quarter 2011 Mortgage Litigation Index

Mortgage Daily

Published On: January 9, 2012
Litigation related to real estate appraisals, pressuring appraisers and appraisal fraud.
Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
 Date Filed Link to Story
Market Intelligence, Inc.; Fidelity National Information Services, Inc.; LSI Appraisal, LLC; Lender Processing Services, Inc. TCF National Bank U.S. District Court for the District of Minnesota $3,300,000 Bank files suit alleging appraisal company was negligent in offering inflated appraisals of residential properties TCF National Bank v. Market Intelligence, Inc. et al. No. 0″11-cv-02717-JRT-AJB 9/21/2011 www.mortgagedaily.com/mctlawsuittcf092211.asp
Quicken Loans, Inc.  Monique Brown Ohio County West Virginia Circuit Court $2,513,432 $2 million in punitive damages awarded against Quicken Loans in relation to predatory lending practices in West Virginia. Brown v. Quicken Loans, Inc. et al. n/a n/a www.mortgagedaily.com/LawsuitQuicken091911.asp
Louis Gendason; Kimberly Mackey; John Incadela; Marcos Echeverria United States of America U.S. District Court for the Southern District of Florida $2,570,000 Defendants were charged with one count of conspiracy to commit wire fraud for their participation in a reverse mortgage and loan modification scheme. Gendason, Mackey and Incandela pleaded guilty to one count of conspiracy to commit wire fraud. Echevarria charged with conspiracy to commit wire fraud and has not pleaded guilty. United States v. Gendason, et al. 0:11-cr-60145-WPD 6/20/2011 www.mortgagedaily.com/MctReverseFraud070711.asp
Douglas Brandewie United States n/a $10,000,000 A criminal information filed in June charges Douglas E. Brandewie with making a false statement to the FDIC.  United States v. Brandewie 11-20367 n/a www.mortgagedaily.com/litigationcriminal072511.asp

 

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