Consumers Seek Class Cert. In Mortgages Suit

Law360, New York (November 18, 2009, 4:59 PM EST) -- A group of consumers is hoping to get a breach of contract and antitrust class action certified against American Home Mortgage Securities LLC, Deutsche Bank National Trust Co. and Wells Fargo Bank over securitized adjustable rate mortgages.

The plaintiffs, led by Elvin and Phyllis Valenzuela, moved for class certification Tuesday in U.S. District Court for the Eastern District of California.

Individuals who took out option adjustable rate mortgage loans in California that were originated by American Home Mortgage would be eligible for the class if the...
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