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Secondary Marketing Lawsuits Fourth-Quarter 2011 Mortgage Litigation Index

Secondary Marketing Lawsuits
Fourth-Quarter 2011 Mortgage Litigation Index
Cases related to secondary marketing, warehouse lending and repurchases.

Case Title
Case Number
Date Filed Date of Activity Link to Story
Liberty Mutual Insurance Co., Zurich American Insurance Co. and Fidelity & Deposit Company of Maryland Fannie Mae U.S. District Court for the District of Columbia $131,000,000 Defendants were dismissed from suit that involves alleged fraud perpetrated by US Mortgage Corp. Federal National Mortgage Association, Plaintiff, v. Certain Underwriters at Lloyd’s London, Et Al, Defendants 1:10-cv-01775 (BAH) 10/20/2010 11/18/2011
Deutsche Bank AG, subsidiary MortgageIT United States of America U.S. District Court for the Southern District of New York na Deutsche’s motion to dismiss denied. United States of America v. Deutsche Bank AG et al. 1:11-cv-02976-LAK 5/3/2011 12/21/2011
David Findel na na $11,994,000 Defendant sentenced to 2 years  in prison for bankruptcy fraud following a 63-month sentence for mortgage and secondary fraud. na na na 12/12/2011
Joseph W. Traxler United States of America U.S. District Court for the District of Minnesota $20,000,000 Centennial Mortgage and Funding CFO pleads guilty. na na na 10/27/2011
Mark Alan Helsing na na $6,900,000 Defendant was sentenced to 15 years prison for stealing $6.9 million from 12 investors in a Ponzi and real estate fraud scheme. His companies were Sea View Investments, HLHS Financial Services Inc., Foothill Realty and Sea View Mortgage. na na na 12/16/2011
Manuel Garcia United States of America U.S. District Court for the District of New Mexico $585,244 Guilty plea from owner of Keyworth Mortgage Funding Group for deceiving First Community Bank. United States of America, Plaintiff, vs. Manuel Garcia, Defendant 1:11-cr-01530-BB 6/7/2011 10/14/2011
Countrywide Financial Corp. National Integrity Life Insurance Co. U.S. District Court, Southern District of New York $93,800,000 Complaint filed alleging abandonment of guidelines by defednat on 24 securitizations. Lawsuit seeks to force defendant to repurchase the certificates. National Integrity Life Insurance Co. vs. Countrywide Financial Corp. et al 11-08077 11/9/2011 na
EMC Mortgage LLC Wells Fargo Delaware Chancery Court na Plaintiff seeks to force defendant to repurchase 800 bad mortgages included in Bear Stearns Mortgage Funding Trust 2007-AR2 na na Sep. 2011 na
James G. “Jay” Temme, Stewardship Fund LP Securities and Exchange Commission na $35,000,000 Emergency court order freezes Temme’s assets. na na na Oct. 2011 na
Bank of America U.S. Bank, N.A. as trustee for HarborView Mortgage Loan Trust Series 2005-10 U.S. District Court for the Southern District of New York  $1,750,000,000 Continuance granted to BofA for more time to respond to complaint. U.S. Bank National Association v. Countrywide Home Loans, Inc. et al. 1:11-cv-06223-LTS 8/29/2011 Nov. 2011

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