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Mortgage Servicing Lawsuits Third Quarter 2009 Mortgage Litigation Report

Mortgage Daily

Published On: November 16, 2009
Mortgage Servicing Lawsuits
Third 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
Carrington Mortgage Services LLC Ohio Attorney General, Ohio Department of Commerce Court of Common Pleas, Franklin County, Ohio na Purchasor or of servicing operations out of bankruptcy failed to offer loan modifications and workout options to borrowers. Offfering the modifications and workouts was a condition of the purchase of the assets out of bankruptcy of New Century Financial. Also alleged are violations of Ohio Consumer Sales Practices Act. State of Ohio v. Carrington Mortgage Services LLC Case No. 09 CVH 7 11433 7/31/2009 www.mortgagedaily.com/LawsuitCarrington080309.asp
AFG Financial Group, Aaron Hand, Eugene Culbreath, Eric Shields, Matthew McDermott, Marc Zirogiannis, Kenneth Law, Kathleen Scanlon, Jeffrey Phelan, Jerry Strklja, Marilyn Mateo, Darlita Bostic, Allyson Hinds, Rajmohan Autar Mannhattan District Attorney, State of New York Supreme Court of the State of New York, County of New York $100,000,000 AFG Financial, wholesale customer of loan originators such as New Century and Countrywide, is alleged to have been created to defraud wholesale lenders through a scheme employing straw buyers of distressed New York properties. The loan funds received on behalf of these straw buyers were allegedly diverted into personal accounts of the defendants. The People of the State of New York v. AFG Financial Group, Inc. et. al. na 7/8/2009 www.mortgagedaily.com/FraudAfg071009.asp
Ocwen Loan Servicing, Brown & Shapiro Christina Melinder Galveston County 56th District Court, Texas na Borrower alleges loan servicer failed to properly apply payments to her account and charged unnecessary fees and interest as a result. na Case No. 09CV1306 7/27/2009 www.mortgagedaily.com/ForeclosureLitigation090409.asp

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