Mortgage Lawsuits

Mortgage Suits Inflict Super-Damages on Banks

LONDON, Sept 6 (Source: Reuters Breakingviews) – Just when investors in European and U.S. banks thought things couldn’t get worse, 17 financial institutions have been sued over $196 billion-worth of toxic mortgage bonds. Bank shares fell up to 12 percent [...]


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Ranger Man Files Suit Against Chase Over Mortgage

HAMLIN (Source: WV Record By Harmon Marks) – A Ranger man says his need of a loan modification resulted in abusive home mortgage servicing by Chase Home Finance.


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Seven Firms Charged in Mortgage Loan Scheme

MATAWAN (Source: GM News) — A borough firm was among seven mortgage loan modification firms targeted by the state Division of Consumer Affairs for illegally offering mortgage modification services to homeowners in dire financial straits.


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BofA Gets Boost as Countrywide Cases are Combined

NEW YORK (Source: Reuters) – Bank of America Corp <BAC.N> won what could prove a legal victory as eight mortgage securities lawsuits against its Countrywide unit were combined into a single case before a federal judge who has ruled favorably [...]


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Barofsky Says Banks May Face More Mortgage Litigation

Aug. 10 (Bloomberg) — Neil Barofsky, former special inspector general for the Troubled Asset Relief Program and a Bloomberg Television contributing editor, talks about possible lawsuits facing Goldman Sachs Group Inc. and other U.S. banks over sales of mortgage-backed securities.


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AIG Sues BofA for $10 Billion Alleging “Massive Fraud”

(Source: Reuters By Jonathan Stempel) – The insurer AIG is suing Bank of America Corp to recover more than $10 billion of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the largest U.S. [...]


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MBIA to Drop Mortgage Suit Against Bank of America

NEW YORK (Source: The Wall Street Journal BY DAVID BENOIT) — MBIA Inc. agreed to drop a lawsuit against Bank of America Corp. and Merrill Lynch over $5.7 billion in credit default protection the bond insurer underwrote for the bank’s [...]


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Pacoima Couple Accuses JPMorgan Chase of Illegally Foreclosing on Home

LOS ANGELES (Source: Daily News Wire Services) – A Pacoima couple is suing the financial services firm JPMorgan Chase for allegedly disregarding federally backed loan modification agreements and illegally attempting to foreclose on their home, according to court papers obtained [...]


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Wells Fargo Settles Mortgage-Backed Security Suit For $125M

NEW YORK (Source: Wall Street)–Wells Fargo & Co. (WFC) agreed to pay $125 million to a slew of pension funds to settle claims over losses stemming from mortgage-backed securities the bank sold that soured in the financial crisis.


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Supreme Court Justice Schack Hits HSBC for ‘Frivolous Motion’ in Foreclosure, Asks Boss to Explain

(Source: New York Daily News) – A Brooklyn judge has ordered the head of one of the nation’s biggest banks to appear in court and explain why it should not be penalized for submitting false documents in a foreclosure case.


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DOJ Claims MGIC Refused to Insure Mortgage for Woman on Maternity Leave

(Source: Housing Wire by KERRI PANCHUk) – The Department of Justice filed a lawsuit against Mortgage Guaranty Insurance Corp. (MTG: 6.53 +7.93%), alleging the mortgage insurer violated the Fair Housing Act by requiring a woman on paid maternity leave to [...]


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Borrowers Sue Over Apparent Loan Mod Mishaps

LOS ANGELES (Source: By JACOB ADELMAN, Associated Press) – It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.


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Law Firm Fisher and Shapiro Sued Over Foreclosure Cases

(Source: Chicago Tribune By Mary Ellen Podmolik) – A former Chicago resident whose home is in foreclosure has filed a lawsuit against Fisher and Shapiro LLC, the law firm that admitted to Cook County Circuit Court that some of the [...]


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El Paso Woman Suing Bank of America

EL PASO (Source: KTSM By Stephania Jimene) – Earlier this month, we told you about an El Paso woman, who claims she was told by her bank, that she’d qualify for a home loan modification, but was still denied, years [...]


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