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Net Branch Lawsuits Fourth Quarter 2008 Mortgage Litigation Report

Mortgage Daily

Published On: March 9, 2009
Net Branch Lawsuits
Fourth Quarter 2008 Mortgage Litigation Report
Litigation involving net branch operations.

 
Defendant
Plaintiff
Court
Amount
Overview
 Case Title
Case Number
 Date Filed Link 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

 

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