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


Predatory Lending Lawsuits
First-Quarter 2010 Mortgage Litigation Index

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Lawsuits and regulatory actions against predatory lenders.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to StoryLink to Story
Ameriquest Mortgage Company; Argent Mortgage Co.; AMC Mortgage Services Inc.; Bedford Home Loan Inc.; Town & Country Credit Corp.; Olympus Mortgage Co. Borrowers U.S. District Court for the Northern District of Illinois $22,000,000 Ameriquest agreed to settle 29 class action lawsuits related to predatory. In re Ameriquest Mortgage Co., Mortgage Lending Practices Litigation 1:2005cv07097 December 20, 2005 www.mortgagedaily.com/Litigation020910.asp
Countrywide Financial Corp., Countrywide Home Loans, Inc., Countrywide Mortgage Ventures LLC, Full Spectrum Lending, Inc. Commonwealth of Massachusetts Superior Court, Suffolk, Commonwealth of Massachusetts $18,000,000 Attorney general brought suit against mortgage originator, alleging unfair origination practices. BoA agreed to make $3 billion in loan modifications as part of settlement agreement. Commonwealth of Mass. V. Countrywide Fin. Corp. et al No- 10-1169 na www.mortgagedaily.com/LitigationCompliance032910.asp
Countrywide Home Loans Montana Attorney General Steve Bullock na $247,247 A foreclosure relief settlement with Montana Attorney General Steve Bullock will cost Countrywide $247,247. Defendant was accused of fast-talking borrowers into dubious loans they did not understand and had little or no hope of ever paying back. Borrorower received checked for $3,129 as settlement. na na na www.mortgagedaily.com/ForeclosureLitigation021510.asp
FirstPlus Home Loan Owner Trust na Greene County District Court na The Greene County District Court ruled in 2009 in favor of the plaintiff's claim that the interest paid on mortgage notes was exorbitant and that class members were entitled to recovery from the trusts. na na na www.mortgagedaily.com/LitigationMbs020910.asp
Hartland Mortgage Centers People of the State of Illinois, by Attorney General Lisa Madigan Circuit Court of Cook County, Illinois na Defendant allegedly falsely implied ongoing ownership in the property even though HECM lenders can foreclose if requirements such as paying property taxes and maintaining the home are not met. In addition, direct mail solicitations falsely implied that seniors could be eligible for government benefits though they were actually advertising reverse mortgage programs. People of the State of Illinois v. Hartland Mortgage Centers 2010-CH-05339 February 8, 2010 www.mortgagedaily.com/Litigation020910.asp
Wells Fargo Bank, N.A., Wells Fargo Financial Leasing, Inc. Mayor and City Council of Baltimore U.S. District Court for the District of Maryland na City alleges that predatory/discriminatory lending practices led to foreclosures that harm the City based on Fair Housing Act violations. District Court granted motion to dismiss complaint with leave to amend. Mayor and City Council of Baltimore v. Wells Fargo Bank, N.A. No. JFM-1:08-cv-00062 January 8, 2010 www.mortgagedaily.com/LitigationCompliance032910.asp, www.mortgagedaily.com/WellsDismissal010610.asp

Predatory Lending News
FTC and HUD settlements. Class action lawsuits. Predatory lending prevention. Archives back to 2001.




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