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Mortgage Servicing Lawsuits First Quarter 2009 Mortgage Litigation Report

Mortgage Daily

Published On: May 26, 2009
Mortgage Servicing Lawsuits
First Quarter 2009 Mortgage Litigation Report
Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.

 
Defendant
Plaintiff
Court
Amount
Overview
 Case Title
Case Number
 Date Filed Link to Story
Chase Home Finance, CitMortgage, Inc., Countrywide Home Loans, Inc., Fifth Third Bank, GMAC Mortgage Corp., Provident Funding Associates, L.P., Saxon Mortgage, Inc., Sovereign Bancorp, Inc., SunTrust Bank, Wachovia Bank, N.A., and Wells Fargo Home Mortgage Lynn E. Feldmen, Chapter 7 Trustee U.S. Bankruptcy Court for the Eastern District of Pennsylvania $26,500,000 Lawsuit filed by bankruptcy trustee of a company that defrauded borrowers and investors out of tens-of-millions of dollars seeks the return of more than $20 million in payments collected by the lenders during the past four years. Feldman v. Chase Home Finance No. 09-02092-ref, No. 07-21587 (REF) Mar. 16, 2009 www.mortgagedaily.com/LawsuitBkSnyder032409.asp
Leib Pinter United States of America na $44,000,000 Principal of servicer forgot to pass on $44 million in proceeds from refinanced loans to Fannie and was sentenced to more than eight years in prison. na na Mar. 19, 2009 www.mortgagedaily.com/FraudOlympia031909.asp
U.S. Mortgage Corp; CU National Mortgage LLC Picatinny Federal Credit Union U.S. Bankruptcy Court for the District of New Jersey $14,000,000 Credit union claims that more than $14 million in mortgages it owned were fraudulently sold. Picatinny Federal Credit Union v. U.S. Mortgage Corp. Case No. 09-14301 (RG) Mar. 3, 2009 www.mortgagedaily.com/LawsuitCuNational031809.asp
Countrywide Home Loans Gary and Jessica Raymond Merrimack County Superior Court, New Hampshire na Couple who lost home to foreclosure allege that Countrywide claims publicly to provide loan modifications but denied them — committing breach of good faith, fraud, negligence and misrepresentation. na na na www.mortgagedaily.com/LawsuitCountrywideModification011509.asp
Bruce M. Rose; Carrington Asset Holding Company, LLC; Carrington Investment Partners, LP; Carrington Investment Partners (US), LP; and Carrington Capital Management, LLC American Home Mortgage Servicing, Inc. Connecticut Superior Court, Judicial District of Stamford na Carrington, which invested in the lowest subprime MBS tranches is accused of devising an illegal scheme to force the American Home into unnecessarily holding on to repossessed properties much longer than necessary. American Home Mortgage Servicing, Inc. v. Rose No. Fst cv 09 50 10834 Mar. 20, 2009 www.mortgagedaily.com/LawsuitAmericanHome032609.asp
American Home Mortgage Servicing, Inc. Carrington Asset Holding Co. LLC, Carrington Investment Partners LLP, Carrington Capital Management, LLC and Stanwich Asset Acceptance Co. LLC Connecticut Superior Court, Judicial District of Stamford na Carrington, which invested in the lowest subprime MBS tranches is accused of devising an illegal scheme to force the American Home into unnecessarily holding on to repossessed properties much longer than necessary. Carrington also sued. Carrington Asset Holding Co., LLC v. American Home Mortgage Servicing, Inc. No. FST-CV-09-5010295-S Feb. 10, 2009 www.mortgagedaily.com/LawsuitAmericanHome032609.asp

 

 

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