| Did Big Lenders Cross the Line?
Lawsuits assert some firms doctored loan documents
Mary Overton isn't like most other troubled homeowners who suddenly found themselves struggling under the weight of rising mortgage payments. Sure, like many, her monthly bill was high—nearly triple the $825 or so she collects from Social Security, her main source of income. But lawyers for the grandmother say her lender, Ameriquest Mortgage Co., is the one to blame; they contend in a lawsuit that Ameriquest crossed the line from lax underwriting to outright fraud. .
Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Announces Class Action Lawsuit Against American Home Mortgage Investment ...
The law firm Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has filed a lawsuit in the United States District Court for the Eastern District of New York on behalf of its client and on behalf of other similarly situated purchasers of American Home Mortgage Investment Corporation ("American Home Mortgage or the "Company) (NYSE:AHM) common stock between April 26, 2006 through and including July 30, 2007 (the "Class Period). The complaint charges American Home Mortgage and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act). It is alleged that defendants omitted or misrepresented material adverse facts about the Companys financial condition, business prospects, and revenue expectations during the Class Period. American Home Mortgage is a real estate investment trust (REIT), which engages in the investment and origination of residential mortgage loans in the United States.
Kirby McInerney & Squire LLP Announces Class Action Lawsuit On Behalf of American Home Mortgage Investment Corp. ...
NEW YORK, Aug. 2, 2007 (PRIME NEWSWIRE) -- Kirby McInerney & Squire, LLP announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of all persons who purchased or otherwise acquired the publicly traded securities of American Home Mortgage Investment Corp. (``American Home Mortgage'' or the ``Company'') (Nasdaq:AHM) between April 26, 2006 and July 30, 2007, inclusive, (the ``Class Period''). .
Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Luminent Mortgage Capital, Inc.
Stull, Stull & Brody has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of investors of Luminent Mortgage Capital, Inc. ("Luminent" or the "Company") (NYSE:LUM - News) who purchased the publicly traded securities of Luminent between May 10, 2007 and August 6, 2007, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). .
Stumbo says Kentuckians eligible for $888,436 from Ameriquest
Attorney General Gregory D. Stumbo announced today that 2,138 Kentucky consumers are eligible for $888,436 in restitution from Ameriquest Mortgage Company and its related companies as part of a $325 million national settlement of a predatory lending lawsuit against the company.The Attorney General and the Kentucky Office of Financial Institutions began sending letters and claim forms to eligible Kentucky consumers during the week of July 9. To participate in the settlement and receive restitution, consumers must mail completed and signed forms to the settlement administrator by Sept. 10, 2007. The forms, mailed to each consumer, will indicate the minimum payment the consumer can expect to receive.“The exact amount consumers receive could be larger," stated Stumbo. “It will depend on how many eligible Kentucky consumers decide to participate in the settlement.
Church members sue pastor
Members of a Nashville church that was the scene of a melee last weekend turned to the courts last week, claiming their pastor has mortgaged the church without permission, has taken money and refuses to step down. The lawsuit, filed against the Rev. N. Curtis Bryant by members of Jackson Street Missionary Baptist Church near Jefferson Street, paints a picture of a congregation deeply divided and in utter turmoil. .
/ CORRECTION - Rosen Law Firm
In the news release, "The Rosen Law Firm Files Securities Class Action Against American Home Mortgage Investment Corp. Seeking to Recover Investors' Losses -- AHM," issued Thursday, August 2, 2007 by the Rosen Law Firm, we are advised by the firm that the first paragraph should read "The Rosen Law Firm today announced that it has filed a securities class action lawsuit in the U.S. District Court for the Eastern District of New York on behalf of purchasers of American Home Mortgage Investment Corp., Inc. ("AHM." or the "Company") (NYSE:AHM - News) common stock during the period between July 26, 2006 and July 27, 2007 (the "Class Period")." rather than "The Rosen Law Firm today announced that it has filed a securities class action lawsuit in the U.S. District Court for the Southern District of New York on behalf of purchasers of American Home Mortgage Investment Corp., Inc.
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