We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Lawsuits Against Lenders Increase In 2nd Quarter

Law360 (September 9, 2008, 12:00 AM EDT) -- With the mortgage and housing markets still in turmoil, the number of investor lawsuits against housing finance companies rose steadily in the second quarter.

According to the Second Quarter Mortgage Litigation Report released Tuesday by Morgagedaily.com, investors filed 14 lawsuits against mortgage companies, up from the nine investor or class action suits that were filed against mortgage originators in the first quarter of 2008.

“You've got dissatisfied investors who have seen stock values plummet and profits plummet,” said Sam Garcia, the publisher of Mortgagedaily.com.

According to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.