|
Defendant
|
Plaintiff
|
Court
|
Amount
|
Overview
|
Case Title |
Case Number
|
Date Filed | Link to Story |
| CitiFinancial Inc. | 35 States | na | $1,250,000 | CitiFinancial agreed to settle with 35 states over its failure to report 97,127 residential mortgage loans as required by the Home Mortgage Disclosure Act. | In the Matter of CitiFinancial Settlement Agreement | na | March 23, 2010 | www.mortgagedaily.com/SettlementCitifinancial032410.asp |
| Gateway Funding Diversified Mortgage Services, L.P. and Gateway Funding, Inc. | Federal Trade Commission | U.S. District Court for the Eastern District of Pennsylvania | na | Defendant allegedly failed to create an effective Fair Lending monitoring program agreed to in an earlier settlement. Defendant entered a new settlement which requires a third-party consultant to perform a detailed analyses and annual assessment of defendant’s lending during the next five years. | Federal Trade Commission v. Gateway Funding Diversified Mortgage Services, L.P. | 2:2008cv05805 | December 15, 2008 | www.mortgagedaily.com/Litigation020910.asp |
| Option One Mortgage Corp. | Maria E. Siller, Clayton Siller | California Court of Appeals, Fourth Appellate District, Division One | na | The court overturned the disposal of asset in which Borrower alleged lender misrepresented the amount of cash borrower would receive in refinancing of borrower’s home. Borrower brought claims for TILA violation, fraud, rescission, and restitution. | Siller v. Option One Mortgage Corp. | D054366 | March 9, 2010 | www.mortgagedaily.com/LitigationCommitments032910.asp |
| Pulte Homes, Inc., Pulte Home Corp., Pulte Mortgage LLC | Soladin Kaing et al | U.S. District Court for the Northern District of California | na | A motion to dismiss was granted in favor of defendants alleged to have forced subprime loans on unqualified borrowers, which led to increased foreclosures and, in turn, devalued the properties in surrounding neighborhoods. | Skaing (sic) v. Pult Homes, Inc. | No. 09-5057 | February 18, 2010 | www.mortgagedaily.com/LitigationCompliance032910.asp |
| Vanderbilt Mortgage and Finance Inc. | North Carolina Office of Commissioner of Banks | na | $3,800,000 | Settlement of charges by state. | na | na | na | www.mortgagedaily.com/SettlementVanderbilt031010.asp |
| Wells Fargo Home Mortgage Inc.; WFC Holdings Company; Wells Fargo Financial Services, Inc. | Armando Martinez; Alinda Martinez, on behalf of themselves and a class of others similarly situated | U.S. Court of Appeals for the Ninth Circuit | na | The Ninth Circuit ruled that Section 8(b) of RESPA did not prohibit overcharges and that plaintiffs’ claims that overcharges violated the California UCL were preempted by the National Bank Act. | Martinez v. Wells Fargo Bank | No. 07-17277 | March 9, 2010 | www.mortgagedaily.com/PbRespaOvercharges031710.asp |
| Wells Fargo Home Mortgage, Inc., Fremont Investment & Loan, Inc. | Renee Imeh Okon | U.S. Court of Appeals for the Fourth Circuit | na | The 4th Circuit affirmed dismissal of TILA lawsuit against defendant mortgage lenders. | Okon v. Wells Fargo Home Mortgage, Inc. et al | No. 09-1939 | March | www.mortgagedaily.com/LitigationCompliance032910.asp |
