ILNews

State files suit against mortgage lender

IL Staff
January 1, 2008
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Indiana Attorney General Steve Carter has filed a lawsuit against mortgage lender Countrywide Home Loans Inc. for questionable practices, making Indiana the fifth state to take action against the largest lender in the country. The suit, No. 76C01-0808-PL-652, was mailed to Steuben Circuit Court Aug. 22 and filed the same day.

The suit, which includes Countrywide's parent company, Countrywide Financial Corporation, alleges the company engaged in deceptive and misleading practices that put borrowers in potentially risky and costly loans.

Carter's investigation of the company showed homeowners were misled about some terms of their loans including pre-payment penalty terms and the time period in which interest rates would be recalculated.

The state wants the court to order Countrywide to end the deceptive practices listed in the suit, void the prepayment penalties on Countrywide originated loans, and void any portion of the Countrywide originated loans that resulted from deceptive acts.

The state is also seeking civil penalties of up to $15,500 per violation in addition to investigative costs and consumer restitution. The penalties are allowed under Indiana's Home Loan Practices Act, Indiana Code Section 24-9-8, and Indiana's Deceptive Consumer Sales Act, I.C. Section 24-5-0.5.

California, Connecticut, Florida, and Illinois also have pending actions against the mortgage company.
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  1. A traditional parade of attorneys? Really Evansville? Y'all need to get out more. When is the traditional parade of notaries? Nurses? Sanitation workers? Pole dancers? I gotta wonder, do throngs of admiring citizens gather to laud these marching servants of the constitution? "Show us your billing records!!!" Hoping some video gets posted. Ours is not a narcissistic profession by any chance, is it? Nah .....

  2. My previous comment not an aside at court. I agree with smith. Good call. Just thought posting here a bit on the if it bleeds it leads side. Most attorneys need to think of last lines of story above.

  3. Hello everyone I'm Gina and I'm here for the exact same thing you are. I have the wonderful joy of waking up every morning to my heart being pulled out and sheer terror of what DCS is going to Throw at me and my family today.Let me start from the !bebeginning.My daughter lost all rights to her 3beautiful children due to Severe mental issues she no longer lives in our state and has cut all ties.DCS led her to belive that once she done signed over her right the babies would be with their family. We have faught screamed begged and anything else we could possibly due I hired a lawyer five grand down the drain.You know all I want is my babies home.I've done everything they have even asked me to do.Now their saying I can't see my grandchildren cause I'M on a prescription for paipain.I have a very rare blood disease it causes cellulitis a form of blood poisoning to stay dormant in my tissues and nervous system it also causes a ,blood clotting disorder.even with the two blood thinners I'm on I still Continue to develop them them also.DCS knows about my illness and still they refuse to let me see my grandchildren. I Love and miss them so much Please can anyone help Us my grandchildren and I they should be worrying about what toy there going to play with but instead there worrying about if there ever coming home again.THANK YOU DCS FOR ALL YOU'VE DONE. ( And if anyone at all has any ideals or knows who can help. Please contact (765)960~5096.only serious callers

  4. He must be a Rethuglican, for if from the other side of the aisle such acts would be merely personal and thus not something that attaches to his professional life. AND ... gotta love this ... oh, and on top of talking dirty on the phone, he also, as an aside, guess we should mention, might be important, not sure, but .... "In addition to these allegations, Keaton was accused of failing to file an appeal after he collected advance payment from a client seeking to challenge a ruling that the client repay benefits because of unreported income." rimshot

  5. I am not a fan of some of the 8.4 discipline we have seen for private conduct-- but this was so egregious and abusive and had so many points of bad conduct relates to the law and the lawyer's status as a lawyer that it is clearly a proper and just disbarment. A truly despicable account of bad acts showing unfit character to practice law. I applaud the outcome.

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