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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

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