twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.

States Battle Foreclosure Firms

Recent lawsuits involving foreclosure rescue and modification firms

Nov. 17, 2009


Texas and Florida are taking foreclosure firms to court. But a Nevada law firm has filed a lawsuit against state regulators over suggestions that its staff is not qualified to help borrowers who are facing foreclosure.

Florida Attorney General Bill McCollum announced on Nov. 9 that a lawsuit was filed against National Payment Modification Co. and The Bostonian Group LLC, also known as People's First. William Rodriguez, who is the owner of both companies, was also named as a defendant.

Permanent injunctions on up-front fees, restitution and civil penalties of $15,000 for each violation are sought.

The companies allegedly charge up to $2,500 in up-front fees.

Rodriguez was a founding owner of Wineberg, Lopez, & Rodriguez Co., which was sued in Orange County Circuit Court during March and faced an emergency injunction barring it from charging borrowers advance fees for foreclosure-related rescue services. An investigation by the state found that the up-front fee is charged in five installments using post-dated checks.

"Each check, according to the lawsuit, is associated with a separate 'sub-contract' or step in the loan modification process," McCollum said. "Consumers complained that both companies cash the post-dated checks even though the companies have not begun negotiations or even contacted the consumers' lenders."

Texas Attorney General Greg Abbott announced that an agreed temporary injunction was signed by Dallas County 134th District Judge James M. Stanton against Markus Bailey and Tyrone Bailey. The two must reimburse borrowers and have been barred from operating the unlicensed businesses, Behind on Mortgage and Behind on Mortgages USA.

They allegedly charged up-front fees of at least $1,000 but "provided no measurable foreclosure relief, nor did they negotiate with mortgage servicers." The Texas defendants continued to operate even after an October cease-and-desist order from the Department of Savings and Mortgage Lending.

The state seeks $20,000 per violation of the Texas Deceptive Trade Practices Act in addition to legal costs. Also alleged are violations of the Texas Business and Commerce Code and the Texas Finance Code.

Cogburn Law Offices LLC filed suit this month in Nevada's Clark County District Court against the state's Department of Business and Industry, Division of Mortgage Lending -- successfully obtaining a temporary restraining order preventing the state from suggesting in public statements that its staff who work with its licensed lawyers are not qualified to help borrowers with loan modifications, short sales and deeds-in-lieu-of-foreclosure, the Las Vegas Sun reported.

State of Texas, Plaintiff, v. Tyrone Bailey, Individually, aka T.D. Bailey a/k/a J.D. Baily d/b/a Behind on Mortgage, and Mark Bailey, Individually a/k/a Markus Bailey, d/b/a Behind on Mortgage, USA Defendant.
Cause No. 09-14826 (In the District Court of Dallas County, Texas, 134th Judicial District).

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

[email protected]

Loan Modification News
Loan modification activity, reports and legislation.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders