Judge Admits Errors, Reopens Sierra Pacific Kickbacks Suit

By Dave Simpson (January 26, 2021, 10:47 PM EST) -- A Maryland federal judge reopened a proposed class action from Sierra Pacific borrowers accusing the mortgage provider of hatching a deal with a settlement service company to trade referrals for kickbacks, acknowledging Tuesday that he made two errors when dismissing the case last year.

U.S. District Judge George L. Russell III was persuaded by the borrowers' arguments that he had misconstrued settlement services company All Star Title Inc. as the party receiving the alleged illegal kickbacks when, in fact, the borrowers made the opposite argument: that All Star paid — while Sierra Pacific Mortgage Co. received — the kickbacks.

Secondly, the...

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