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Defendant
|
Plaintiff
|
Court
|
Amount
|
Overview
|
Case Title
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DLJ Mortgage Capital |
U.S. District Court for the Southern District of New York |
$3 million |
Credit Suisse unit seeks repurchase of loans that became delinquent shortly after being purchased by DLJ, with some loans becoming delinquent within three months after purchase |
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Morgan Stanley Mortgage Capital Inc. |
U.S. District Court for the District of Maryland |
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Morgan Stanley suit seeks indemnification for losses and expenses, including foreclosure costs, it incurred when the lender failed to cure or repurchase 32 loans |
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Morgan Stanley Mortgage Capital Holdings Corp. |
U.S. District Court of Florida in Miami |
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Lender purportedly refused to cure the breaches and/or repurchase the defaulted loans in alleged breach of its agreement with Morgan Stanley |
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Wachovia Bank N.A. |
Mecklenburg County Superior Court, North Carolina (notice of removal filed) |
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Former subprime lender sued for failure to comply with repurchase requests on loans with fraudulent files |
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American Home Mortgage Servicing Inc. on behalf of SPEs Broadhollow Funding LLC and Melville Funding LLC, acting for American Home Holdings Inc et al. |
U.S. Bankruptcy Court for the District of Delaware |
$25.34 million |
BoA accused of allegedly of reneging on its obligations to cover a share of mortgage losses under swap agreements with two special purpose entities
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| Century Mortgage Corp., New Century Asset Holding, Home 123 Corp., New Century Credit Corp., New Century Financial Corp. | UBS Real Estate Securities | U.S. Bankruptcy Court for the District of Delaware | . | UBS lawsuit alleged misappropriation of UBS money and escrow money being held for borrowers | . |
| Directors Mortgage Inc., Sunset Mortgage Co., Joanne Kantor. | John and Sherri Harkness | Oregon Circuit Court | $1 million | Oregon couple files suit against lenders, claim the companies did not adequately train and supervise the originator who helped them invest in risky, hard money loans | . |
| EMC Mortgage Corp. | Performance Credit Corp. | U.S. District Court for Central District of California, Southern Division | . | Bear Stearns subsidiary is sued over claims it delayed the purchase of subprime mortgages, driving down the value of the loans | . |
| Fieldstone Mortgage Corp. | Morgan Stanley Mortgage Capital Holdings Corp. | U.S. District Court, Maryland in Baltimore | . | Lender purportedly refused to cure the breaches and/or repurchase the defaulted loans in alleged breach of its agreement with Morgan Stanley | . |
| Fremont Investment & Loan | Morgan Stanley Mortgage Capital Holdings Corp. | U.S. District Court of New York, Southern District | . | Former subprime lender allegedly failed to cure or repurchase 231 loans because of misrepresentations that drove down the value of the mortgages | . |
| Groves Funding Corp., Home Loan Funding Corp., Real Estate Benefit Plan, et al. | Regions Bank | U.S. District Court for the Northern District of Georgia | . | Several businesses sued by bank claiming it is owed $5 million from a mortgage fraud scam masterminded by the owner of a title and settlement company. | . |
| HomeBanc Corp. | . | . | . | Closing attorneys in Georgia, Florida and North Carolina who had funded loans after receiving $10 million in checks from HomeBanc Corp. seek to recover funds after the checks from the bankrupt mortgage lender bounced but HomeBanc’s warehouse lender JP Morgan, wants to be paid first. | . |
| Lorainne O. Legg, Tiserv Inc., LoriMac Inc. | G.E. Employees Federal Credit Union | U.S. District Court, Connecticut | $7 million | Federal credit union sues two companies and their owner for allegedly failing to sell mortgages on the secondary market and keeping the money for herself | . |
| M&T Mortgage Corp. | St. Stephens Baptist Church Corp. | . | . | M&T alleged to have made fraudulent claims against HUD for reimbursement and received “many millions of dollars” in insurance payments on the HUD 203(k) loans | . |
| MortgageIT | EMC Mortgage Corp. | United States District Court Northern District of Texas, Dallas Division | $70 million | “EMC charges Mortgage IT with failure to repurchase 587 subprime loans when the loans went into default or prepaid. | . |
| OneCap Mortgage Corp. | . | . | $250,000 administrative fine | Cease and desist order issued against OneCap Mortgage Corp. to stop making illegal, unsecured loans that were presented to investors as loans secured by real estate. | . |
| Opteum Financial Services LLC | Coast Bank of Florida | U.S. District Court in Florida | . | Coast Bank sues Opteum Financial Services LLC for allegedly reneged on a deal to purchase $20 million in mortgage loans | . |
| RPK Realty Group | JER Revenue Services LLC | New York State Supreme Court Appellate Division | . | Appellate Division affirmed that the purchasers of distressed debt do not retain all of the super powers of the FDIC after they acquire the debt, including the requirement of consent before one can foreclose out a position held by the FDIC | . |
| State Bancorp Inc.
another article |
HSA Residential Mortgage Services | . | $65 million | New York bank has settles warehouse lender litigation over the fraudulent activity of a now defunct mortgage lender. | . |
| Stor It, Seth Kincaid | Lehman Brothers Bank FSB | New York State Supreme Court | . | Lehman Brothers charges its affiliate with breaches of the loan application, commitment letter and rate lock agreement | . |
| Sunset Direct Lending | DLJ Mortgage Capital | U.S. District Court for the Southern District of New York | $24 million | Credit Suisse unit seeks repurchase of loans that became delinquent shortly after being purchased by DLJ, with some loans becoming delinquent within three months after purchase | . |
| Thornburg Mortgage Inc. | Wachovia Corp. | U.S. District Court for the Southern District of New York | $5.1 million | Wachovia voluntarily dismisses suit against real estate investment trust days after the REIT returned the funds it owed a Wachovia banking unit from a series of derivatives transactions | . |
| U.S. Bank N.A. | Beazer Homes USA Inc. | . | . | Beazer files suit against U.S. Bank to prevent the bank from declaring Beazer in default on $1.38 billion in loans and accelerating repayment | . |
