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Mortgage Discrimination Lawsuits Fourth Quarter 2008 Mortgage Litigation Report

Mortgage Discrimination Lawsuits
Fourth Quarter 2008 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
Gateway Funding Diversified Mortgage Services LP and Gateway Funding Inc. Federal Trade Commission U.S. District Court For The Eastern District of Pennsylvania $2,900,000 A Pennsylvania-based net branch operation has settled charges that its originators earned bigger fees and yield spread premiums on loans to minorities, in violation of the Equal Credit Opportunity Act. However, All but $0.2 million of a $2.9 million judgment will be suspended due its financial condition. Federal Trade Commission v. Gateway Funding Diversified Mortgage Services, L.P. and Gateway Funding, Inc. FTC File No. 0623063 na www.mortgagedaily.com/GatewaySettlement121608.asp
Credit-Based Asset Servicing and Securitization LLC, Merrill Lynch Mortgage Investors Inc. and some officers and directors, as well as the issuers and underwriters of the certificates. Massachusetts Attorney General Martha Coakley Suffolk Superior Court na A preliminary injunction against Option One Mortgage Corp. prohibits the company from initiating or advancing foreclosures on any of the 9,700 loans in the state that are considered presumptively unfair. Commonwealth of Massachusetts v. H&R Block Inc. No. 1:08-cv-11225 na www.mortgagedaily.com/ForeclosureMitigation111208.asp

 

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