Mortgage Litigation Update from MortgageDaily.com
DALLAS — (August 27, 2007) The following mortgage industry lawsuits were recently covered by https://www.mortgagedaily.com — the dominant source of online news for the mortgage industry.
Wachovia Bank vs. Thornburg Mortgage
Wachovia filed a lawsuit against Thornburg, seeking more than $5.1 million plus expenses for Thornburg’s failure to honor derivatives contracts, including a series of interest rate swaps entered into during 2003.
https://www.mortgagedaily.com/LawsuitWachoviaThornburg082707.asp
Former Employees vs. HomeBanc Mortgage
Three former employees of HomeBanc are seeking 60 days’ wages, compensation and benefits for themselves and “approximately 1000 other similarly situated employees” in a complaint filed in U.S. Bankruptcy Court.
https://www.mortgagedaily.com/LawsuitHomebanc082407.asp
Former Employees vs. American Home Mortgage Corp.
Two former employees have filed a lawsuit against American Home charging violations of the WARN Act.
https://www.mortgagedaily.com/LawsuitHomebanc082407.asp
Borrowers vs. The Ryland Group
The Ryland Group is has been sued by a group of borrowers who say the homebuilder violated federal law by coercing them with cash incentives into obtaining mortgages from a Ryland subsidiary.
https://www.mortgagedaily.com/LawsuitRyland082407.asp
Investors vs. Luminent Mortgage Capital Inc.
Luminent is being sued for allegedly misleading investors about its business and financial results.
https://www.mortgagedaily.com/Mergers082407.asp
Investors vs. Thornburg Mortgage Inc.
Alleged false and misleading statements that artificially inflated its stock price led investors to file a lawsuit against Thornburg.
https://www.mortgagedaily.com/Mergers082407.asp
Investors vs. Countrywide Financial Corp.
Litigation has been filed against Countrywide on behalf of common stock purchasers alleging the company misled investors.
https://www.mortgagedaily.com/Mergers082107.asp
Borrowers vs. Temple-Inland
Temple-Inland has been accused of violating the law by failing to reconvey deeds of trust on paid loans.
https://www.mortgagedaily.com/LawsuitTempleInland082007.asp
Charter Oak Lending Group vs. CTX Mortgage
Charter Oak and CTX are litigating allegations CTX cajoled several employees to leave Charter Oak within days of each other.
https://www.mortgagedaily.com/LawsuitsUpdate080607.asp
U.S. Fax Law Center vs. Riverside Mortgage Corp.
Mortgage broker Riverside was sued after allegedly contacting prospective borrowers through faxes.
https://www.mortgagedaily.com/LawsuitsUpdate080607.asp
American Interbanc vs. NovaStar Home Mortgage Inc.
NovaStar was accused of engaging in bait-and-switch tactics on Bankrate.com and then conspiring to get American Interbanc kicked off the site when it complained about the alleged tactics.
https://www.mortgagedaily.com/LawsuitsUpdate080607.asp
Complete mortgage litigation coverage at:
https://www.mortgagedaily.com/legal.asp
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Source:Â MortgageDaily.com
