DALLAS, March 21, 2011 am--the last three months of 2010 were very debatable for mortgage administrators. Legal actions against administrators help push the mortgage litigation Index 42 percent if foreclosure cases warmed up and actions that are associated with loan modifications tripled.
The report indicates that 151 mortgage-related lawsuits had case activities between 1 October and 31 december by daily mortgage, a dominant source of news for the mortgage industry. Activity jumped from only 106 three months earlier according to the index, which had been prepared in cooperation with Patton Boggs LLP, a well-known leader in mortgage banking disputes.
Maintenance of disputes rose to 26 cases of five in the third quarter. Maintenance was busier because foreclosure litigation nearly doubled the previous quarter activity and change activity climbed 208 percent.
Another active area was investor lawsuits, which from the third quarter doubled. Behind the turnout was a similar increase in litigation instituted mortgage-backed securities is linked to. Secondary marketing disputes almost doubled, while the cases involving criminal defendants rose significantly.
"The affirmative examination of State Attorneys General, legislators and the courts in the mortgage and mortgage foreclosure allocation processes have promoted an environment where mortgage-related disputes has expanded on all fronts," says Marcus Antonius Laura, a partner in the company's Newark office. "While the increase of cases maintenance stark, the increase in costumes by investors alleging missteps in the process of origination and securitization is especially notable, as hundreds of millions of dollars often at stake in those cases, loan portfolio repo."
This graph shows a snapshot of the findings of the report:
Read the full report at:
http://www.mortgagedaily.com/MortgageLitigationReport.asp?spcode=PR
Mortgage dispute News:
http://www.mortgagedaily.com/legal.asp?spcode=PR
About Patton Boggs LLP
Based in Washington DC, Patton Boggs LLP is a national leader in public policy and regulation, litigation and business law, and is known for its deep bipartisan roots in the national political arena. The company's core practice areas are public policy and regulation, litigation, Business and intellectual property. For more information, visit us at www.PattonBoggs.com.
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