Defended Bank Against Mass Mortgage Actions in State and Federal Courts

Hodgson Russ represents a bank in numerous federal and state actions commenced by several hundred homeowners against major mortgage lenders and servicers. The homeowners asserted claims such as the lenders induced the plaintiffs to enter into mortgages based, in part, upon appraisals the lenders knew were inflated; coerced inflated appraisals from the appraisers; failed to comply with underwriting guidelines; failed to appropriately modify the terms of the mortgage debts; and acted improperly in foreclosing on the plaintiffs’ properties. Several of these actions have been dismissed and several are still pending.