Mortgage Discrimination Lawsuits Second Quarter 2008 Mortgage Litigation Report

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MORTGAGE EXPERT
1 · 09 · 08
Defendant
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Case Title
Case Number
Date Filed Link to StoryLink to Story
Option One Mortgage Corp., parent H&R Block Inc., and American Home Mortgage Servicing Inc. State of Massachusetts Suffolk Superior Court na Option One Mortgage Corp. is accused of placing borrowers in risky loans it should have known would wind up in foreclosure. In addition, the company allegedly charged several hundred dollars more in fees and points to black and Latino borrowers than similarly situated white borrowers. Commonwealth of Massachusetts v. H&R Block Inc. 1:08-cv-11225 June 3, 2008 www.mortgagedaily.com/LawsuitOptionOneMass060408.asp
Wells Fargo Bank, N.A. Mayor and City Council of Baltimore U.S. District Court, District of Maryland na The City of Baltimore alleges that Wells Fargo engaged in “reverse redlining” by targeting black borrowers for high-priced loans in violation of the Fair Housing Act, and is responsible for “tens of millions of dollars” in lost tax revenues to the city because of a few hundred foreclosures during the past seven years. Mayor and City Council of Baltimore v. Wells Fargo Bank, N.A. 08-00062-BEL na www.mortgagedaily.com/LawsuitWellsBaltimore060208.asp
Countrywide na Washington State $1,000,000 fine for discriminatory lending; $5,000,000 in unpaid assessments Washington announces fines against Countrywide for discriminatory lending and seeks revocation of Countrywide’s mortgage license for alleged illegal activity. na na na www.mortgagedaily.com/LawsuitCountrywide062508.asp
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