Outrageous jury award reveals contempt for mortgage lenders

If we apply the $5.38 million jury award to all of those loans, you have a potential cost from the foreclosure fraud scandal of $32.28 trillion. This obviously represents the extreme edge of the possible financial hit to the industry. A small number of foreclosures may have been completed properly.

Failure to Appear While serving on jury duty is often inconvenient, the right to a trial by jury is a privilege guaranteed by the constitution of the United States and the State of California. To preserve this constitutional right, it is important that you perform your civic duty and serve when called.

Growing pains for Mr. Cooper? Nonbank takes big loss thanks to lower interest rates Comergence, a provider of third-party vendor and risk-management platforms for the mortgage industry, announced the hiring of Jamie Giorello as business development manager. In this role, Giorello.Moody’s: $10.3 Billion in US CDO Downgrades During October Yes ¨ No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or.

Law360, Los Angeles (March 23, 2016, 7:31 PM EDT) — A California state jury on Tuesday awarded $25.1 million in damages to Mount Olympus Mortgage Co., finding rival mortgage lender Guaranteed Rate Inc. liable for illegally transferring hundreds of private consumer loan files from MOMCo’s computer systems, according to plaintiff’s attorneys.

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A Jefferson County jury has awarded a Louisville couple a $21.5 million verdict for being victimized in what their lawyer called "a Ponzi scheme" run by another couple who have been indicted in three mortgage fraud cases and have been linked to massage parlor prostitution.

Homeowner wins $21 MILLION payout from mortgage firm in dispute over credit rating. After a six-day trial in March, a jury awarded Sergeant Brash $21,350,575, including $20million in punitive damages. The company claimed the confusion arose because of mistakes made on Sergeant Brash’s original paperwork -.

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Real Talk About Mortgage Lenders and Home Loans! The Court found that all of the factors to uphold the punitive damages award had been satisfied under Montana law, and that the $5M award was well within US Bank’s ability to pay without serious consequences to it given that US Bank’s Form 10-Q filing with the SEC showed that its net worth was $41,552,000.000 (that’s over $42 and a half BILLION.

Linza hired a lawyer, sued, and after 3-years of legal combat the jury awarded $16 million to Linza because of egregious lender behavior including credit rating damage. If a lender/servicer has jilted YOU in a loan mod, you might see something familiar in this scenario. If so, you should do what Linza did: SUE.