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Mortgage Servicing Lawsuits First-Quarter 2010 Mortgage Litigation Index

Mortgage Daily

Published On: June 23, 2010
Mortgage Servicing Lawsuits
First-Quarter 2010 Mortgage Litigation Index
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
American Home Mortgage Servicing, Inc. Carrington Asset Holding Co. LLC, Carrington Investment Partners LLP, Carrington Capital Management, LLC, Stanwich Asset Acceptance Co. LLC Connecticut Superior Court- Judicial District of Stamford na Suit by investors in securitization alleging breach of contract by forced sale of foreclosed homes to free up cash to service servicer’s debt. Carrington Asset Holding Company LLC v. American Home Mortgage Servicing, Inc. FST-CV-09-5010295-S Feb. 10, 2009 www.mortgagedaily.com/LitigationMbs032910.asp
CUSO Mortgage, Inc. First Catholic Federal Credit Union U.S. District Court for the Eastern District of Michigan na First Catholic filed a complaint against CUSO for its failure to live up to the terms of a subservicing agreement. Specifically, CUSO allegedly failed to pay delinquent taxes, neglected to properly process loan modifications, and did not post payments on time. As a result, First Catholic attempted to terminate the servicing agreement. First Catholic filed suit to invalidate a 2 percent termination fee after CUSO refused. First Catholic Federal Credit Union v. CUSO Mortgage, Inc. 2:2009cv14982 December 23, 2009 www.mortgagedaily.com/Litigation011810.asp
na TMST, Inc. f/k/a Thornburg Mortgage, Inc. U.S. Bankruptcy Court for the District of Maryland na Bankruptcy trustee approves sale of $11 billion servicing portfolio. In re TMST Inc. f/k/a Thornburg Mortgage, Inc. 09-17787 May 1, 2009 www.mortgagedaily.com/Secondary012610.asp

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