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Mortgage Investor Lawsuits – Fourth-Quarter 2012

Mortgage Investor Lawsuits

Fourth-Quarter 2012 Mortgage Litigation Index

 

Shareholder lawsuits and class actions accusing companies of inflating earnings, overstating capital position or otherwise deceiving investors in the company. Other shareholder issues.

 

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Date of Activity Link to Story
Fannie Mae na U.S. District Court for the Southern District of New York na Answers to complaints filed. Goldman Sachs dismissed from suit. In re 2008 Fannie Mae ERISA Litigation; Comprehensive Investment Services v. Mudd, et al.; and Smith v. Fannie Mae, et al 09-mdl-2013 na November www.mortgagedaily.com/LitigationInvestor112012.asp
Federal National Mortgage Association,  KPMG, LLP, Leanne Spencer, Franklin D. Raines, J. Timothy Howard Ohio Public Employees Retirement System, State Teachers Retirement System of Ohio U.S. District Court for the District of Columbia na Court granted motion for summary judgment and dismissed Spencer from the case on Nov. 20; Raines and Howard dismissed as defendants on Oct. 16. In re Federal National Mortgage Association Securities, Derivative, and “ERISA” Litigation;
In re Fannie Mae Securities Litigation
MDL No. 1668, Consolidated Civil Action No. 04-1639 (RJL) na 11/20/2012 www.mortgagedaily.com/LitigationInvestor112012.asp
First Financial Northwest, Inc. Stilwell Group na na Settlement reached over election results.. na na na 12/20/2012 www.mortgagedaily.com/InvestorLawsuits4q2012.asp
Kenneth Shellem, Richard Koon, Scott Van Dellen Federal Deposit Insurance Corp. U.S. District Court for the Central District of California $170,000,000 Case tried. na na na November www.mortgagedaily.com/MctLawsuitIndymac111212.asp
Wells Fargo & Company investors na na Complaint filed. na na 11/26/2012 11/26/2012 www.mortgagedaily.com/InvestorLawsuits4q2012.asp
Wells Fargo Bank, N.A. The City of Farmington Hills Employees Retirement System U.S. District Court for the District of Minnesota Defendant’s motion to exclude from the class those who did not suffer any loss denied. The City of Farmington Hills Employees Retirement System v. Wells Fargo Bank 0:2010-cv-04372 10/26/2010 November www.mortgagedaily.com/LitigationInvestor112012.asp
ALLY FINANCIAL INC. FEDERAL HOUSING FINANCE AGENCY U.S. District Court for the Southern District of New York na Several claims dismissed. FEDERAL HOUSING FINANCE AGENCY, etc., Plaintiff, v. ALLY FINANCIAL INC., et al., Defendants 11 Civ. 7010 (DLC) na 12/19/2012 www.mortgagedaily.com/LitigationMbsFHFA011313.asp
Bank of America Pennsylvania school pension fund U.S. District Court for the Southern District of New York na Defendant’s request to dismiss denied. na na na Q3 https://www.mortgagedaily.com/LitigationMbs110712.asp
BANK OF AMERICA CORP., NB HOLDINGS CORP., COUNTRYWIDE FINANCIAL CORP., COUNTRYWIDE HOME LOANS, INC., BAC HOME LOANS SERVICING LP f/k/a COUNTRYWIDE HOME LOANS SERVICING LP, CWALT, INC., CWMBS, INC., CWABS, INC., CWHEQ, INC., and COUNTRYWIDE SECURITIES CORP. PHOENIX LIGHT SF LIMITED, SILVER ELMS CDO PLC, SILVER ELMS II LTD, KLEROS PREFERRED FUNDING V PLC, BLUE HERON FUNDING II LTD., BLUE HERON FUNDING V LTD., and BLUE HERON FUNDING IX LTD Supreme Court of the State of New York County of New York $122,183,462 Complaint filed. PHOENIX LIGHT SF LIMITED, SILVER ELMS CDO PLC, SILVER ELMS II LTD, KLEROS PREFERRED FUNDING V PLC, BLUE HERON FUNDING II LTD., BLUE HERON FUNDING V LTD., and BLUE HERON FUNDING IX LTD., Plaintiffs, -against- BANK OF AMERICA CORP., NB HOLDINGS CORP., COUNTRYWIDE FINANCIAL CORP., COUNTRYWIDE HOME LOANS, INC., BAC HOME LOANS SERVICING LP f/k/a COUNTRYWIDE HOME LOANS SERVICING LP, CWALT, INC., CWMBS, INC., CWABS, INC., CWHEQ, INC., and COUNTRYWIDE SECURITIES CORP., Defendants 653916/2012 11/13/2012 11/13/2012 www.mortgagedaily.com/LitigationMbsBoa011313.asp
BANK OF AMERICA CORPORATION; BANK OF AMERICA, N.A.; COUNTRYWIDE FINANCIAL CORPORATION; COUNTRYWIDE SECURITIES CORPORATION; COUNTRYWIDE CAPITAL MARKETS, LLC; COUNTRYWIDE HOME LOANS, INC.; CWABS, INC.; CWHEQ, INC.; MERRILL LYNCH & CO., INC.; MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. (f/k/a BANC OF AMERICA SECURITIES LLC); MERRILL LYNCH MORTGAGE LENDING INC.; and MERRILL LYNCH MORTGAGE INVESTORS, INC. HSH NORDBANK AG; HSH NORDBANK AG, LUXEMBOURG BRANCH; HSH NORDBANK AG, NEW YORK BRANCH; HSH NORDBANK SECURITIES S.A.; and CARRERA CAPITAL FINANCE LIMITED Supreme Court of the State of New York County of New York $218,144,000 Complaint filed. HSH NORDBANK AG; HSH NORDBANK AG, LUXEMBOURG BRANCH; HSH NORDBANK AG, NEW YORK BRANCH; HSH NORDBANK SECURITIES S.A.; and CARRERA CAPITAL FINANCE LIMITED, Plaintiffs, -against- BANK OF AMERICA CORPORATION; BANK OF AMERICA, N.A.; COUNTRYWIDE FINANCIAL CORPORATION; COUNTRYWIDE SECURITIES CORPORATION; COUNTRYWIDE CAPITAL MARKETS, LLC; COUNTRYWIDE HOME LOANS, INC.; CWABS, INC.; CWHEQ, INC.; MERRILL LYNCH & CO., INC.; MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. (f/k/a BANC OF AMERICA SECURITIES LLC); MERRILL LYNCH MORTGAGE LENDING INC.; and MERRILL LYNCH MORTGAGE INVESTORS, INC., Defendants INDEX NO. 654382/2012 12/14/2012 12/14/2012 www.mortgagedaily.com/LitigationMbsBoa011313.asp
BEAR, STEARNS & CO., INC n/k/a J.P. MORGAN SECURITIES, LLC; STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC.; BEAR STEARNS ASSET BACKED SECURITIES I, LLC; and INDYMAC MBS, INC. NATIONAL CREDIT UNION ADMINISTRATION BOARD U.S. District Court for the District of Kansas $3,600,000,000 Complaint filed. NATIONAL CREDIT UNION ADMINISTRATION BOARD, as Liquidating Agent of U.S. Central Federal Credit Union, Western Corporate Federal Credit Union, Southwest Corporate Federal Credit Union, and of Members United Corporate Federal Credit Union, Plaintiff, v. BEAR, STEARNS & CO., INC n/k/a J.P. MORGAN SECURITIES, LLC; STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC.; BEAR STEARNS ASSET BACKED SECURITIES I, LLC; and INDYMAC MBS, INC. Defendants na 12/14/2012 12/14/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Capital One, N.A. Ambac Assurance Corp. U.S. District Court for the Southern District of New York na Complaint filed. na na 10/24/2012 10/24/2012 www.mortgagedaily.com/LitigationMbs011313.asp
Citigroup Inc. Sealink Funding Limited Supreme Court of the State of New York County of New York $513,331,000 Complaint filed.  SEALINK FUNDING LIMITED, Plaintiff, – against – CITIGROUP INC., CITIGROUP GLOBAL MARKETS INC., CITIGROUP MORTGAGE LOAN TRUST INC. and CITIGROUP GLOBAL MARKETS REALTY CORP., Defend 653844/2012 11/7/2012 11/7/2012 www.mortgagedaily.com/LitigationMbs011313.asp
COMMONWEALTH ADVISORS, INC., WALTER A. MORALES Securities and Exchange Commission U.S. District Court for the Middle District of Louisiana $32,000,000 Complaint filed. U.S. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. COMMONWEALTH ADVISORS, INC. and WALTER A. MORALES, Defendants na 11/8/2012 11/8/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Countrywide Financial Federal Deposit Insurance Corp. U.S. District Court, Central District of California na Judge is no longer convinced that a California state court case extended the statute of limitation of claims brought in federal court. FDIC v. Countrywide Financial 12-4354 na 11/21/2012 www.mortgagedaily.com/InvestorLawsuits4q2012.asp
Credit Suisse Securities (USA) LLC, f/d/a “Credit Suisse First Boston LLC,” DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Securities Corporation, Asset Backed Securities Corporation and Credit Suisse Mortgage Acceptance Corporation State of New York Supreme Court of the State of New York County of New York $11,200,000,000 Complaint filed. People of the State of New York, by Eric T. Schneiderman, Attorney General of the State of New York, Plaintiff, – against – Credit Suisse Securities (USA) LLC, f/d/a “Credit Suisse First Boston LLC,” DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Securities Corporation, Asset Backed Securities Corporation and Credit Suisse Mortgage Acceptance Corporation, Defendants Index No. 451802/20122 11/20/2012 11/20/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Credit Suisse Securities, RBS Securities, Greenwich Capital Acceptance and Structured Asset Mortgage Investments Genesee County Employees’ Retirement System, Maryland National Capital Park & Planning Commission Employees’ Retirement System, the Midwest Operating Engineers Pension Fund U.S. District Court for the District of New Mexico $11,500,000 Settlement approved. na na March 2009 12/10/2012 www.mortgagedaily.com/LitigationMbs011313.asp
DEUTSCHE BANK AG; DEUTSCHE BANK SECURITIES, INC.; DB STRUCTURED PRODUCTS INC.; DEUTSCHE ALT-A SECURITIES INC.; and MORTGAGE IT SECURITIES CORPORATION LANDESBANK BADEN-WÜRTTEMBERG and SPENCERVIEW ASSET MANAGEMENT LTD. Supreme Court of the State of New York County of New York $173,000,000 Complaint filed. LANDESBANK BADEN-WÜRTTEMBERG and SPENCERVIEW ASSET MANAGEMENT LTD., Plaintiffs, v. DEUTSCHE BANK AG; DEUTSCHE BANK SECURITIES, INC.; DB STRUCTURED PRODUCTS INC.; DEUTSCHE ALT-A SECURITIES INC.; and MORTGAGE IT SECURITIES CORPORATION, Defendants INDEX NO. 654543/2012 12/27/2012 12/27/2012 www.mortgagedaily.com/LitigationMbs011313.asp
DLJ Mortgage Capital Inc., Credit Suisse Securities (USA) LLC  Assured Guaranty Municipal Corp. Supreme Court of the State of New York County of New York na Three causes of action dismissed. Assured Guaranty Municipal Corp. f/k/a Financial Security Assurance, Inc., Assured Guaranty Corp., Plaintiffs, -against- DLJ Mortgage Capital, Inc. and Credit Suisse Securities (USA), LLC, Defendants 652837-2011E 10/17/2011 10/11/2012 www.mortgagedaily.com/LitigationMbs110712.asp
Flagstar Bank FSB, Flagstar Capital Markets Corporation, and Flagstar ABS, LLC Assured Guaranty Municipal Corp., f/k/a Financial Security Assurance Inc. U.S. District Court for the Southern District of New York na Closing arguments presented, joint proposed pre-trial order filed. Assured Guaranty Municipal Corp., f/k/a Financial Security Assurance Inc., Plaintiff, vs. Flagstar Bank, FSB; Flagstar Capital Markets Corporation; and Flagstar ABS, LLC, Defendants 173796 4/7/2011 Nov. 2012 www.mortgagedaily.com/LitigationMbs011313.aspwww.mortgagedaily.com/LitigationMbs110712.asp
GOLDMAN SACHS GROUP, INC. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF MISSISSIPPI U.S. District Court for the Southern District of New York na Settlement proposed. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF MISSISSIPPI, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. GOLDMAN SACHS GROUP, INC., et al., Defendants 09-CV-1110-HB na Q4 www.mortgagedaily.com/LitigationMbsGoldman110712.asp
J.P. Morgan Securities LLC (formerly known as Bear Stearns & Co. Inc.), JP Morgan Chase Bank, N.A., and EMC Mortgage LLC (formerly known as EMC Mortgage Corporation)  State of New York New York State Supreme Court $22,500,000,000 Complaint filed. PEOPLE OF THE STATE OF NEW YORK, by ERIC T. SCHNEIDERMAN, Attorney General of the State of New York, Plaintiff, – against – J.P. MORGAN SECURITIES LLC, (f/k/a “Bear, Stearns & Co. Inc.”), JPMORGAN CHASE BANK, N.A., EMC MORTGAGE LLC (f/k/a “EMC Mortgage Corporation”), Defendants. na 10/2/2012 10/2/2012 www.mortgagedaily.com/MbsLawsuits4q2012.aspwww.mortgagedaily.com/MctSettlementsSec111812.asp
J.P. Morgan Securities LLC, EMC Mortgage LLC  Prudential Insurance Company of America U.S. District Court for the District of New Jersey, New Jersey’s Essex County Superior Court na Case remanded to state court. na na April 2012 12/20/2012 www.mortgagedaily.com/LitigationMbs011313.asp
RBS Financial Products State of Nevada Eighth Judicial District Court $42,000,000 Settlement reached. na na na 10/24/2012 www.mortgagedaily.com/LitigationMbs110712.asp
RBS Securities Inc Woori Bank U.S. District Court for the Southern District of New York $80,000,000 Case dismissed. Woori Bank v. RBS Securities Inc et al 12-04254 na 12/27/2012 www.mortgagedaily.com/LitigationMbs011313.asp
Standard & Poor’s Financial Services LLC, Moody’s Investors Service Inc. and Fitch Inc. OHIO POLICE & FIRE PENSION FUND; OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM; STATE TEACHERS RETIREMENT SYSTEM OF OHIO; SCHOOL EMPLOYEES RETIREMENT SYSTEMS OF OHIO; OHIO PUBLIC EMPLOYEES DEFERRED COMPENSATION PROGRAM U.S. Court of Appeals for the Sixth Circuit, U.S. District Court for the Southern District of Ohio $457,000,000 Appeals court upholds dismissal of lawsuit. OHIO POLICE & FIRE PENSION FUND; OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM; STATE TEACHERS RETIREMENT SYSTEM OF OHIO; SCHOOL EMPLOYEES RETIREMENT SYSTEMS OF OHIO; OHIO PUBLIC EMPLOYEES DEFERRED COMPENSATION PROGRAM, Plaintiffs-Appellants, v. STANDARD & POOR’S FINANCIAL SERVICES LLC; THE MCGRAW-HILL COMPANIES, INC.; MOODY’S CORP.;MOODY’S INVESTORS SERVICE, INC.; FITCH, INC., Defendants-Appellees 2:09-cv-1054 na 12/3/2012 www.mortgagedaily.com/LitigationMbs011313.asp
WMC Mortgage LLC trustee of Securitized Asset Backed Receivables LLC Trust 2006-WM2 U.S. District Court $1,000,000,000 Complaint filed. na na 10/29/2012 10/29/2012 www.mortgagedaily.com/LitigationMbs110712.asp
WMC Mortgage LLC and General Electric Capital Corp. Deutsche Bank National Trust Co. Connecticut District Court, New Haven Office $390,000,000 Complaint filed. Deutsche Bank National Trust Company v. WMC Mortgage LLC and General Electric Capital Corporation 3:2012cv01699 11/30/2012 11/30/2012 www.mortgagedaily.com/LitigationMbs011313.asp
JPMorgan Chase & Co. New York Attorney General New York Surpreme Court na Complaint filed. na na 10/1/2012 10/1/2012 www.mortgagedaily.com/MctLawsuitChaseMbs100212.asp
Bank of America United States of America na na Complaint filed in case invovling Fannie Mae and Freddie Mac loans. na na na October www.mortgagedaily.com/MctSettlementsSec111812.asp
Credit Suisse Securities and Exchange Commission na $120,000,000 Settlement reached. In the Matter of Credit Suisse Securities (USA) LLC; DLJ Mortgage Capital, Inc.; Credit Suisse First Boston Mortgage Acceptance Corp.; Credit Suisse First Boston Mortgage Securities Corp.; and Asset Backed Securities Corporation Respondents Administrative Proceeding File No. 3-15098 11/16/2012 11/16/2012 www.mortgagedaily.com/MctSettlementsSec111812.aspwww.mortgagedaily.com/LitigationMbsRegulatory011313.asp
J.P. MORGAN SECURITIES LLC, EMC MORTGAGE, LLC, BEAR STEARNS ASSET BACKED SECURITIES I, LLC, STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC., SACO I, INC., AND J.P. MORGAN ACCEPTANCE CORPORATION I Securities and Exchange Commission U.S. District Court for the District of Columbia $296,900,000 Settlement reached. UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. J.P. MORGAN SECURITIES LLC, EMC MORTGAGE, LLC, BEAR STEARNS ASSET BACKED SECURITIES I, LLC, STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC., SACO I, INC., AND J.P. MORGAN ACCEPTANCE CORPORATION I, Defendants na na 11/16/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.aspwww.mortgagedaily.com/MctSettlementsSec111812.asp
GreenPoint Mortgage Funding Inc. CIFG Assurance North America Inc. Supreme Court of the State of New York County of New York $58,000,000 Complaint filed. CIFG Assurance North America Inc., Plaintiff, – against – GreenPoint Mortgage Funding, Inc., Defendant Index No. 653449/2012 10/1/2012 10/1/2012 www.mortgagedaily.com/LitigationMbs110712.aspwww.mortgagedaily.com/LitigationMbsGoldman110712.asp
HSBC Finance Corp. as Successor-in-Interest to Decision One Federal Housing Finance Agency U.S. District Court for the Southern District of New York na Case closed. Case had been removed to federal court on 10/19/12. Federal Housing Finance Agency v. HSBC Finance Corp. as Successor-in-Interest to Decision One 12-cv-7809 9/26/2009 12/5/2012 www.mortgagedaily.com/LitigationRepurchases021113.asp
MERRILL LYNCH MORTGAGE LENDING, INC., MERRILL LYNCH MORTGAGE INVESTORS, INC., BANK OF AMERICA, NATIONAL ASSOCIATION MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM4, MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM5 Supreme Court of the State of New York County of New York $1,100,000,000 Complaint filed. MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM4, MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM5, Plaintiffs, -against- MERRILL LYNCH MORTGAGE LENDING, INC., MERRILL LYNCH MORTGAGE INVESTORS, INC., BANK OF AMERICA, NATIONAL ASSOCIATION, Defendants Index No. 654403/2012 12/18/2013 12/18/2013 www.mortgagedaily.com/LitigationMbsBoa011313.asp
WMC Mortgage Corp. U.S. Bank, N.A. U.S. District Court for the District of Minnesota na Motion to dismiss granted. MASTR Asset Backed Securities Trust 2006-HE3 v. WMC Mortgage Corporation 11-2542, 2012 WL 4511065 Sep. 2011 10/1/2012 www.mortgagedaily.com/LitigationMbs011313.asp
Anthony J. Nocella, J. Russell McCann Securities and Exchange Commission U.S. District Court for the Southern District of Texas na Management order filed in case against former Franklin Bank Corp. executives. Securities and Exchange Commission, Plaintiff, v. Anthony J. Nocella, and J. Russell McCann, Defendants 4:12-cv-01051 4/5/2012 November www.mortgagedaily.com/LitigationInvestor112012.asp
Michael W. Perry Federal Deposit Insurance Corp. U.S. District Court for the Central District of California $12,000,000 Former IndyMac CEO settles case for $1 million plus corporate liability insurance claims. FDIC as Receiver of IndyMac Bank, F.S.B. v. Perry, et al 2:10-cv-04915-DSF-SH 7/6/2010 12/14/2012 www.mortgagedaily.com/MctSettlementIndymac121612.asp
Scott Van Dellen, Richard Koon, Kenneth Shellem and William Rothman Federal Deposit Insurance Corp. U.S. District Court for the Central District of California $169,000,000 Verdict against former IndyMac executives. Federal Deposit Insurance Corp., as Receiver for IndyMac Bank, F.S.B., Plaintiff, v. Scott Van Dellen, Richard Koon, Kenneth Shellem and William Rothman, Defendants 10-04915-RSWL 7/2/2010 12/7/2012 www.mortgagedaily.com/MctLawsuitFdicIndymac120812.asp
Stephen L. Howell, Security Financial Services, Inc., Security Financial Fund, LLC and Security Investors Fund, LLC Idaho Department of Finance First District Court in Benewah County $24,000,000 Complaint filed. na na 12/26/2012 12/26/2012 www.mortgagedaily.com/InvestorLawsuits4q2012.asp
Countrywide Home Loans, Inc. d/b/a Bank of America Home Loans, Bank of America Corporation, Bank of America, N.A. Washington Federal U.S. District Court Western District of Washington at Seattle $400,000,000 Complaint filed. Washington Federal v. Countrywide Home Loans, Inc. d/b/a Bank of America Home Loans, Bank of America Corporation, Bank of America, N.A. 2:12-cv-01820 10/16/2012 10/16/2012 www.mortgagedaily.com/LitigationRepurchases021113.asp
Old Second National Bank SunTrust Mortgage, Inc. United States District Court, E.D. Virginia, Richmond Division na Case closed. SunTrust Mortgage, Inc. v. Old Second National Bank 3:12cv99-JAG 2/9/2012 11/1/2012 www.mortgagedaily.com/LitigationRepurchases021113.asp
Allied Mortgage Group, Inc. CitiMortgage, Inc. U.S. District Court, E.D. Missouri, Eastern Division na Case closed. CitiMortgage, Inc. V. Allied Mortgage Group, Inc. 4:10CV01863 JAR 5/1/2012 10/24/2012 www.mortgagedaily.com/LitigationRepurchases021113.asp
na Meridian Investors U.S. Bankruptcy Court for the Western District of Washington at Seattle na Objection to claim and notice of hearing. In Re Consolidated Funds a/k/a Meridian Investors Trust, et al. 2:10-bk-17952 7/9/2010 11/9/2012 www.mortgagedaily.com/LitigationInvestor112012.asp
na IndyMac Bancorp Inc. U.S. Bankruptcy Court, Central District of California, Los Angeles Division $1,637,031 Order granting the fee applications of some of the professionals involved in the case filed. In Re IndyMac 2:08-21752-BB 7/31/2008 12/20/2012 www.mortgagedaily.com/LitigationBkCorp021813.asp
Residential Capital LLC NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs U.S. District Court for the Southern District of New York na Class certification granted. NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs, v. RESIDENTIAL CAPITAL, LLC, et al., Defendants 08 CV 8781 (HB) na 10/15/2012 www.mortgagedaily.com/LitigationMbsResCap110712.asp
Royal Bank of Scotland NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs U.S. District Court for the Southern District of New York na Class certification granted. na 08 Civ. 5093 na 10/15/2012 www.mortgagedaily.com/LitigationMbsResCap110712.asp
na Residential Capital LLC U.S. Bankruptcy Court for the Southern District of New York $3,000,000,000 Asset sale approved on Nov. 27. Wells Fargo Bank, N.A., as master servicer files joinder on Oct. 29. Wells Fargo, Deutsche Bank National Trust Corp., Deutsche Bank Trust Company Americas; The Bank of New York Mellon Trust Company, N.A.; and U.S. Bank, N.A., file supplement to trustees’ pre-auction objection. Financial Guaranty Insurance Co. made a filing on Oct. 5 in ResCap’s bankruptcy to ensure $193,735,218 in premiums and other money it claims to be owed are repaid in the likely sale of its assets. In. re. Residential Capital LLC 12-12020 5/14/2012 11/27/2012 www.mortgagedaily.com/OcwenResCap112712.aspwww.mortgagedaily.com/LitigationMbsResCap110712.aspwww.mortgagedaily.com/OcwenResCap102412.asp
na The PMI Mortgage Group na na “Well-known private equity investor” indicates interest in making investment and reorganizing company. In. re. The PMI Mortgage Group na 11/23/2011 December www.mortgagedaily.com/PmiInvestor120512.asp
FEDERAL DEPOSIT INSURANCE CORPORATION, in its capacity as the Receiver for COLONIAL BANK, and in its capacity as the Receiver for PLATINUM COMMUNITY BANK, Defendant and Counterclaim Plaintiff. BANK OF AMERICA, N. A., As Indenture Trustee, Custodian, and Collateral Agent for OCALA FUNDING, LLC, Plaintiff and Counterclaim Defendant United States District Court for the District of Columbia $1,700,000,000 Both parties moved to dismiss. Court granted and denied both motions in part. BANK OF AMERICA, N. A., As Indenture Trustee, Custodian, and Collateral Agent for OCALA FUNDING, LLC, Plaintiff and Counterclaim Defendant,  v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its capacity as the Receiver for COLONIAL BANK, and in its capacity as the Receiver for PLATINUM COMMUNITY BANK, Defendant and Counterclaim Plaintiff. 10-CV-1681 (BJR) na 12/10/2012 www.mortgagedaily.com/BankruptcyCorporateLawsuits4q2012.asp
Robert Stinson Jr. United States of America U.S District Court for the Eastern District of Pennsylvania $17,000,000 Defendant sentenced to 33 years. United States v. Robert Stinson, Jr. 2:10-cr-00724 na November www.mortgagedaily.com/LitigationInvestor112012.asp
Anthony F. D’Agostino United States of America U.S. District Court for the Northern District of Illinios $63,000,000 Defendant pleaded not guilty. na na 12/11/2012 12/27/2012 www.mortgagedaily.com/CriminalActions4q2012.asp
Charles Chesterfield United States of America U.S. District Court for the Western District of Washington $3,000,000 Sentenced to 40 months. na na na 11/8/2012 www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Regina M. Preetorius United States of America U.S. District Court for the Southern District of Georgia $1,700,000 Defendant arraigned and granted bond of $20,000. na na na 10/31/2012 www.mortgagedaily.com/ForeclosureLawsuits4q2012.asp
Regina M. Preetorius United States of America U.S. District Court for the Southern District of Georgia $1,700,000 Defendant arraigned and granted bond of $20,000. na na na 10/31/2012 www.mortgagedaily.com/ForeclosureLawsuits4q2012.asp
Aneal Maharaj United States of America U.S. District Court for the District of Nevada $1,400,000 Guilty plea. na na n 10/18/2012 www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Stanley Fenton Anderson na District Court of Adams County, Colorado $1,600,000 Sentenced to 11 years. People of the State of Colorado, Plaintiff v. Stanley Fenton Anderson, DOB 9/2/1973 Defendant 1530, Division T 6/2/2011 November www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Todd Hoss United States of America U.S. District Court for the Western District of Washington $4,200,000 Sentenced to 8 years. na na na 10/26/2012 www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Gilbert G. Lundstrom, James A. Laphen and Trevor A. Lundstrom Securities and Exchange Commission U.S. District Court for the District of Nebraska na Charges filed. Securities and Exchange Commission v. Gilbert G. Lundstrom, James A. Laphen and Trevor A. Lundstrom 12-cv-00343 na November www.mortgagedaily.com/LitigationInvestor112012.asp
Gregory William Bell United States of America U.S. District Court for the District of Colorado $20,808,025 Defendant charged and arrested. na na Dec. 2012 Dec. 2012 www.mortgagedaily.com/CriminalActions4q2012.asp
Matthew L. Morris, Wilbur Anthony Huff United States of America U.S. District Court for the Southern District of New York $2,300,000 Former executives of Park Avenue Bank indicted. na na October October www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Robert Fulton Rood IV na na $9,574,853 Guilty plea. na na na 10/23/2012 www.mortgagedaily.com/LitigationCriminalInvestors112012.asp
Scott N. Powers, David E. McMaster United States of America U.S. District Court for the District of North Dakota $28,564,470 Guilty pleas in American Mortgage Specialists Inc. case. na na 10/2/2012 10/19/2012 www.mortgagedaily.com/AmericanMortgageSpecialistPlea102212.asp

3rd quarter 2012 investor lawsuits

2nd quarter 2012 investor lawsuits

1st quarter 2012 investor lawsuits

4th quarter 2011 investor lawsuits

3rd quarter 2011 investor lawsuits

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1st quarter 2011 investor lawsuits

4th quarter 2010 investor lawsuits

3rd quarter 2010 investor lawsuits

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4th quarter 2009 investor lawsuits

3rd quarter 2009 investor lawsuits

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1st quarter 2009 investor lawsuits

4th quarter 2008 investor lawsuits

3rd quarter 2008 investor lawsuits

2nd quarter 2008 investor lawsuits

1st quarter 2008 investor lawsuits

full year 2007 investor lawsuits

 

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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...

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