ResCap Says LendingTree Can't Escape $68.5M Judgment

Law360 (December 9, 2019, 6:00 PM EST) -- The successor to the now-defunct Residential Funding Co. LLC is urging a Minnesota federal judge not to dismiss its lawsuit that aims to hold mortgage company LendingTree accountable for a $68.5 million judgment against a now-bankrupt subsidiary.

The ResCap Liquidating Trust said Friday that LendingTree is trying to dodge responsibility for the sale of defective mortgage loans to RFC by LendingTree's alter ego, Home Loan Center Inc., in a dismissal bid that ignores clear-cut allegations that LendingTree assumed HLC's liabilities when it acquired it in 2004 and then was spun off from a parent company in 2008, including the $68.5 million...

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