DALLAS, March 21, 2010/PRNewswire/--the final three months of 2010 was much parallel to mortgage servicers. Legal action against the index help servicers pushing disputes mortgage percent 42 as heated situations of exclusion and actions related to loan modifications tripled.
The report shows that 151 lawsuits related to the mortgage had silver case activity between 1 and 31 Dec. reported by daily Mortgage News, dominant source for the mortgage industry. Activity leapt from 106 just three months earlier, according to the index, which was prepared in conjunction with Patton Boggs LLP, known leader mortgage, banking litigation.
Servicing litigation cases has surged to 26 from five in the third quarter. Service was busy, because foreclosure proceedings almost doubled the prior quarter of activity and modify activity climbed 208 percent.
Another active area was investor lawsuits, which have doubled from the third quarter. Behind the rise was a similar increase in litigation related to mortgage-backed securities. Secondary marketing controversy almost doubled, while cases involving criminal offences has increased significantly.
"The affirmative state lawyers general investigations, legislators and courts of mortgage foreclosure mortgage procedures and assignment grown an environment where differences related to the mortgage has been expanded on all fronts," says Antony Laura, a partner of the company's Newark office. "While the increase in maintenance cases is harsh, the increase of uniforms by investors alleging missteps in origin and is very worth to securitization occurred as hundreds of millions of dollars at stake in these cases frequently repurchase the loan portfolio."
This chart shows a snapshot of the report's conclusions:
Read the report:
http://www.mortgagedaily.com/MortgageLitigationReport.asp?spcode=pr
Mortgage Litigation News:
http://www.mortgagedaily.com/legal.asp?spcode=pr
About Patton Boggs LLP
Based in Washington DC, Patton Boggs LLP is a national leader of public policy and regulatory, litigation and business law and is known for its deep bipartisan roots in national politics. The investment firm is a core practice areas of public policy and regulatory, litigation, business and intellectual property. For more information, visit us at www.PattonBoggs.com.
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