Mortgage Daily Logo
mortgage news from industry experts

Mortgage Discrimination Lawsuits Second Quarter 2009 Mortgage Litigation Report

Mortgage Discrimination Lawsuits
Second Quarter 2009 Mortgage Litigation Report
Class actions and lawsuits related to lending discrimination involving minorities, neighborhoods and property types.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to StoryLink to Story
AIG United Guaranty Corp., Bank of America, CitiMortgage Inc., Countrywide Home Loans Inc., Fannie Mae, Freddie Mac, GE Money Bank, GMAC Mortgage, HSBC Mortgage Corp., JPMorgan Chase & Co., Merrill Lynch, the Mortgage Electronic Registration System, National City Bank, PNC Financial Services Group Inc. and Wells Fargo Bank n.a. multiple n.a. Cases filed in AZ, FL and NV seek class action certification over alleged fraud against non-english speaking Hispanics. n.a. n.a. n.a. www.mortgagedaily.com/Lawsuits051209.asp
Ameriquest Mortgage Co. and AMC Mortgage Services Inc. Rosemary A. Gilroy U.S. District Court for the District of New Hampshire $937,000 Suit alleges that defendants engaged in predatory lending activities. Rosemary A. Gilroy v. Ameriquest Mortgage Company and AMC Mortgage Services, Inc. No. 1:07-CV-00074-JD 15-Mar-2007 www.mortgagedaily.com/LawsuitAmeriquest061909.asp
First Mariner Bank Federal Deposit Insurance Corporation n.a. $1,000,000 Settlement in case alleging Hispanics were charged higher yield spread premiums. Violations of ECOA, FTC Act and Fair Housing Act alleged. n.a. n.a. n.a. www.mortgagedaily.com/SettlementFirstMariner051409.asp
Golden Empire Mortgage Inc. and Howard D. Koostra Federal Trade Commission U.S. District Court for the Central District of California n/a Permanent injunction sought to prevent future ECOA, Regulation B, and FTC Act violations in case alleging Hispanic borrowers were charged significant overages that could not be accounted for by underwriting or credit risks. “Federal Trade Commission, Plaintiff, v. Golden Empire Mortgage Inc., a corporation, and Howard D. Kootstra, individually and as a corporate officer, Defendants. No. CV09-03227, FTC File No. 0623061 1-May-2009 www.mortgagedaily.com/DiscriminationGoldenEmpire051109.asp
Primary Residential Mortgage Inc. Yvonne Flitton U.S. District Court for the District of Utah, Central Division $722,393 Plaintiff awarded damages and attorneys’ fees for EEOC violations. “YVONNE FLITTON, Plaintiff, vs. PRIMARY RESIDENTIAL MORTGAGE, INC. Defendant. Case No. 2:03-cv-00481-DAK 23-May-2003 www.mortgagedaily.com/Lawsuits051209.asp

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION