Mortgage Litigation Update From MortgageDaily.com

 
The following mortgage industry lawsuits were recently covered by http://www.mortgagedaily.com/ -- the dominant source of online news for the mortgage industry.

Wachovia Bank vs. Thornburg Mortgage

Wachovia filed a lawsuit against Thornburg, seeking more than $5.1 million plus expenses for Thornburg`s failure to honor derivatives contracts, including a series of interest rate swaps entered into during 2003.

 
http://www.mortgagedaily.com/LawsuitWachoviaThornburg082707.asp?spcode=pr

  Former Employees vs. HomeBanc Mortgage

Three former employees of HomeBanc are seeking 60 days` wages, compensation and benefits for themselves and "approximately 1000 other similarly situated employees" in a complaint filed in U.S. Bankruptcy Court.

 
http://www.mortgagedaily.com/LawsuitHomebanc082407.asp?spcode=pr

  Former Employees vs. American Home Mortgage Corp.

Two former employees have filed a lawsuit against American Home charging violations of the WARN Act.

 
http://www.mortgagedaily.com/LawsuitHomebanc082407.asp?spcode=pr

  Borrowers vs. The Ryland Group

The Ryland Group is has been sued by a group of borrowers who say the homebuilder violated federal law by coercing them with cash incentives into obtaining mortgages from a Ryland subsidiary.

 
http://www.mortgagedaily.com/LawsuitRyland082407.asp?spcode=pr

  Investors vs. Luminent Mortgage Capital Inc.

Luminent is being sued for allegedly misleading investors about its business and financial results.

 
http://www.mortgagedaily.com/Mergers082407.asp?spcode=pr

  Investors vs. Thornburg Mortgage Inc.

Alleged false and misleading statements that artificially inflated its stock price led investors to file a lawsuit against Thornburg.

 
http://www.mortgagedaily.com/Mergers082407.asp?spcode=pr

  Investors vs. Countrywide Financial Corp.

Litigation has been filed against Countrywide on behalf of common stock purchasers alleging the company misled investors.

 
http://www.mortgagedaily.com/Mergers082107.asp?spcode=pr

  Borrowers vs. Temple-Inland

Temple-Inland has been accused of violating the law by failing to reconvey deeds of trust on paid loans.

 
http://www.mortgagedaily.com/LawsuitTempleInland082007.asp?spcode=pr

  Charter Oak Lending Group vs. CTX Mortgage

Charter Oak and CTX are litigating allegations CTX cajoled several employees to leave Charter Oak within days of each other.

 
http://www.mortgagedaily.com/LawsuitsUpdate080607.asp?spcode=pr

  U.S. Fax Law Center vs. Riverside Mortgage Corp.

Mortgage broker Riverside was sued after allegedly contacting prospective borrowers through faxes.

 
http://www.mortgagedaily.com/LawsuitsUpdate080607.asp?spcode=pr

  American Interbanc vs. NovaStar Home Mortgage Inc.

NovaStar was accused of engaging in bait-and-switch tactics on Bankrate.com and then conspiring to get American Interbanc kicked off the site when it complained about the alleged tactics.

 
http://www.mortgagedaily.com/LawsuitsUpdate080607.asp?spcode=pr

  Complete mortgage litigation coverage at:
  http://www.mortgagedaily.com/legal.asp?spcode=pr

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  Dallas, TX 75219

Source: MortgageDaily.com

CONTACT: Shaun Bartlett of MortgageDaily.com, +1-214-521-1300