Mortgage Discrimination Lawsuits 2007 Mortgage Litigation Report

written by
MORTGAGE EXPERT
2 · 11 · 08
Defendant
Plaintiff
Court
Amount
Overview
Case Title

NAACP

U.S. District Court for the Central District of California

.

Subprime lenders accused of steering black borrowers into predatory loans

NAACP v. Ameriquest Mortgage Company et al.

Housing Advocates Inc.

HUD and City of Cleveland

.

Argent Mortgage, Wells Fargo and a local mortgage broker accused of targeting predominantly black neighborhoods for predatory loans

.

.

Illinois

.

Obama represented plaintiffs in class action lawsuit against a mortgage lender that allegedly discriminated against African Americans and their neighborhoods

Buycks-Roberson v. Citibank FSB

.

U.S. District Court, Massachusetts

.

Lender accused of steering minority borrowers into predatory loans

.

.
U.S. District Court, Southern District of New York

.

Same-sex couple sues Countrywide Financial Corp., claiming the lender discriminated against them when they wanted to add one partner to the other’s mortgage

DeWolf and Watts v. Countrywide
Countrywide Home Loans, Full Spectrum Lending Inc. Class action Massachusetts . Countrywide alleged to have charged African American borrowers more for a subprime loan than others seeking loans .
EMC Mortgage Corp., Bear Stearns . U.S. District Court, Connecticut . Bear Stearns Companies and its servicing subsidiary accused of charging frivolous fees, losing payments and mismanaging escrow accounts on loans with nonprime minority borrowers in violation of the Fair Housing Act and Civil Rights laws .
First Franklin Financial Corp. Leon L. Morris and Allison S. Morris U.S. District Court for the Northern District of Georgia . First Franklin sued for denying a couple a loan because of a prior foreclosure .
First Indiana Bank N.A. National Community Reinvestment Coalition HUD $100,000 Indiana bank settles claims that it discriminated against minorities by excluding row houses and low-priced homes from acceptable properties for its mortgage programs .
Morgan Stanley, Saxon Mortgage National Community Reinvestment Coalition Filed with HUD and SEC . Lender “intentionally discriminated” against borrowers in African American, Latino, Native American, Asian and Pacific Islander communities .
NovaStar Financial, Inc.

another article

National Community Reinvestment Coalition . . Lawsuit against NFI alleges the real estate investment trust discriminated against minorities seeking financing for homes in row house neighborhoods, on American Indian Reservations and in urban areas for adult foster care .
People’s Bank of the Ozarks Robert and Melanie Johnston . . Lawsuit filed against a Missouri Bank for yanking a couple’s construction financing and terminating their home equity line-of-credit although Bank claims its actions were based on wife’s disclosure that felony charges had been lodged against the couple for fleeing police .
SouthStar Funding LLC

another article

National Community Reinvestment Coalition HUD $500,000 “Settlement reached to resolve alleged discrimination against African Americans and Hispanics because lender refused to make loans on Baltimore row houses valued under $100,000 .
Wells Fargo Financial Inc.

another article

Association of Community Organizations for Reform Now Los Angeles County Superior Court $7 million Consumer finance arm of Wells Fargo & Co settles with subprime borrowers in a class action lawsuit that alleged the lender charged higher fees and interest rates to minorities .

Author

Mortgage Daily Staff

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