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31 Dec 08 Mortgage Lenders Are Losing Lawsuits

Mortgage Lenders Are Losing Lawsuits

In a recent article by MortgageDaily.com , Homeowners appear to be winning a number of lawsuits filed against mortgage companies, an analysis of previously covered litigation by indicated.

Two of the pending cases are seeking to stop foreclosures while another is targeting predatory lending fees charged by state regulated lenders in Maryland.  They reported that one of lawsuits accuses several mortgage lenders of steering minority black borrowers towards higher cost mortgage loans.  One might say that the courts are more sympathetic to the distressed homeowners rather than the ailing mortgage companies.  2009 verdicts will be interesting and may forge new ground breaking laws that will be created to curb predatory lending abuse.

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