what type of attorney to sue a mortgage broker

Ideally, an attorney experienced in real estate law and litigation. The most important thing is to find an aggressive trial attorney with a lot of litigation experience who isn't afraid to go to trial if the case won't settle. Ask about the number of jury trials he/she has done and the results.

Full Answer

Was your mortgage loan closed by an attorney?

Can You Get Scammed By Mortgage Broker? A typical mortgage fraud is conducted not only as a means to profit, but also as a means to house. An attempt at mortgage fraud is typically made by one of the following entities when seeking financial compensation or equity from home buyers and lenders: lenders, brokers, or others.

Can I Sue my Mortgage Company for not reporting?

An attorney specializing in stock loss matters may be able to assist. Can Mortgage Lenders Be Sued? In the case of breaches of a loan contract, the lender may be held responsible if the breach took place. Loans breaches generally result in borrowers seeking damages as compensation to repay their loans. Can You Get Scammed By Mortgage Broker?

How hard is it to sue an attorney?

Jun 13, 2017 · The type of lawyer that you should retain to sue on your set of facts would be a foreclosure lawyer, as they have the most experience dealing with lenders and mortgage servicing companies. You would probably be naming as Defendants both the mortgage servicing company, which is Nationstar, and the owner of the underlying promissory note, which at this …

Can a mortgage company foreclose on a property?

An experienced mortgage attorney can help you review loan documents, assist you in contract negotiations, as well as represent and file a legal claim on your behalf against the mortgage lender, should any disputes arise. Travis Peeler LegalMatch Legal Writer Original Author

Can mortgage lenders be sued?

If the loan contract was breached, the lender can be sued if it was the breaching party. The most common remedy pursued by borrowers when a breach of a loan agreement has occurred is the recovery of damages.

What are reasons to sue a mortgage company?

Although they may be within their rights to foreclose, many mortgage companies conduct the foreclosure process incorrectly.Late or erroneous payment processing.Miscommunication or unclear modifications.Insufficient or untimely notifications.Inaccurate interest or tax calculations.Illegal credit practices.More items...

Can you sue an underwriter?

Liabilities that mortgage underwriters can face will often include legal issues, such as fraud, unfair business practices, misrepresentation, false advertising, and other similar claims. Depending on who authorized the harmful action, an individual underwriter, the lending company, or both can be held liable.Jan 21, 2022

What is respa in mortgage?

The Real Estate Settlement Procedures Act (RESPA) provides consumers with improved disclosures of settlement costs and to reduce the costs of closing by the elimination of referral fees and kickbacks. RESPA was signed into law in December 1974, and became effective on June 20, 1975.

How do you fight a mortgage lender?

File a complaint with the California Attorney General's Office. File a complaint with the Federal Trade Commission. If your complaint is against a real estate broker or salesperson, visit the California Department of Real Estate for details, or call the DRE Public Information Line at (877) 373-4542.

How do I file a complaint against Quicken Loans?

Email us at [email protected].

Can underwriter change their decision?

Yes, the Underwriter Can Reject Your Loan The answer is yes. He or she can make a negative decision regarding your file, and that decision can cause your loan to be rejected. First-time home buyers / borrowers often ask if they can be turned down for a loan, after they've been pre-approved by the lender.Apr 27, 2014

Can you request a different underwriter?

You also can't request a new underwriter. The only way to switch to a different underwriter is to cancel your loan application and either apply again to the same lender -- hoping to land with a new underwriter -- or to seek a mortgage loan with a different lender.

Can you speak to your underwriter?

Underwriters Cannot Directly Ask You Anything It is important to note that underwriters should not be in actual contact with you. All questions and discussions should be handled through your lender or loan officer. An underwriter talking to you directly, or even knowing you personally, is a conflict of interest.Aug 4, 2020

What is an example of a RESPA violation?

RESPA violations include bribes between real estate representatives, inflating costs, the use of shell entities and referrals in exchange for settlement services.Jan 12, 2022

Is a settlement statement required?

Settlement Statement Explained Comprehensive settlement statement documentation is required for mortgage loan products. It is also usually required for other types of loans as well. Commercial and personal loan borrowers will usually work with a loan officer who presents them with the closing, settlement statement.

What is Regulation Z?

Regulation Z prohibits certain practices relating to payments made to compensate mortgage brokers and other loan originators. The goal of the amendments is to protect consumers in the mortgage market from unfair practices involving compensation paid to loan originators.Sep 11, 2019

What are the legal issues with a mortgage lender?

As noted above, numerous legal issues can arise when dealing with a mortgage lender, most commonly due to a breach of the loan agreement. A loan agreement is similar to any other contract; this means all breach of contract reme dies are available, should a party breach the contract. Common examples of legal issues that may arise when dealing ...

What are some examples of legal issues that arise when dealing with a mortgage lender?

Common examples of legal issues that may arise when dealing with a mortgage lender include, but are not limited to the following: Foreclosure: The most common legal issue that arises between a mortgagor and mortgagee is when the mortgagor is behind on making payments on the mortgage, which leads to foreclosure .

What does a real estate agent do?

Finally, a real estate agent will also be involved in helping the borrower find a property to purchase, as well as work with the mortgage lender and broker. As can be seen, with so many parties involved in the purchase of a home, it is not difficult to see why legal disputes often arise.

What is the role of a mortgage broker?

The broker’s role is to assist the borrower by researching multiple loan options from many lenders and helping them find the best loan for them.

What is a breach of contract claim?

Typically, the claim that you will file against the mortgage lender will be based on a breach of contract theory, where you will seek to recover any economic losses that you may have suffered. Additionally, breach of contract remedies may include remedies in equity, such as: Cancelling the mortgage contract; Rewriting the mortgage contract ...

What is foreclosure in mortgage?

In short, foreclosure is the process where the lender takes the borrower’s property and sells the property at a public auction in order to satisfy the borrower’s debts; Mortgage Fraud: Mortgage fraud occurs when false or incorrect information is provided on a loan application.

What is predatory lending?

Predatory Lending: Mortgage lenders sometimes target susceptible buyers, such as first-time borrowers or elderly borrowers, and offer them loans at abusively high interest rates or unreasonable loan terms ; or.

Drake Wesley Shunneson

You may have a case for the damages you incurred for the earnest money and inspection. We would have to look at everything to determine whether it is worth pursuing.

Alexander Isaac Ernst Passo

I don't see anything unless you can actually prove actual fraud and misrepresentation, which I assure you is next to impossible to prove in this scenario.

Stephen Laurence Hoffman

You sure do and since it may be worth some damages see a lot cal real estate lawyer

Fred T Isquith

You may have a case, but that can only be determined by an in personal consultation. You will need to retain an experienced IL litigation attorney. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE.

What happens if you fall behind on your mortgage payments?

You fell behind on mortgage payments and your lender is giving you misleading information about your options to save your home. You have applied for a loan modification and your lender is sending you foreclosure notices at the same time. Your lender lied to you about stopping foreclosure while you were being reviewed for a modification.

What is foreclosure fraud?

We often find that foreclosure fraud occurs when lenders violate the law by creating unconscionable loan terms. Mortgage litigation empowers the homeowner to take the lender to court. The homeowner can no longer be ignored or strung along until the lender decides to foreclose.

What happens if a broker believes you are mistaken?

If the broker genuinely believes you were mistaken, they would explain why, backing this up with the appropriate evidence and financial and/or legal evidence.

What is the unstated and sole objective of a broker?

The unstated and sole objective of the broker is to avoid (or evade) liability by any means available.

What is the problem with fees accruing on the other side?

The theory is that judges are infallible and if you lose, you were in the wrong, deserve no damages and should, therefore, pay the costs of the other side.

How is civil process misused?

Thus, the civil process itself gets misused bureaucratically, through various administrative tricks and processes, while the actual financial mismanagement is either not dealt with at all, or simply denied validity. Furthermore, the less of a case the firm has, the more they will resort to such tactics.

Can a broker deny everything?

In many or most cases, the broker will deny absolutely everything with arguments that will make your own blood either boil or freeze. The defenses will range from blaming you, the market or both, to distorting the figures or the laws, the logic or anything else that shifts the liability for the losses away from the broker.

Is litigation an investment?

Either way, the unfortunate reality is that litigation is an investment in itself, with its own risks and rewards. There are substantial costs involved, both financial and non-financial. All these factors need to be weighed up in advance and a sensible decision made. In some cases, it is better to live with the losses.

Can you lose a case in court?

In addition, you can still lose in court because the judge gets it wrong or the broker hires legal and financial "experts" who manage to convince them (often incorrectly) that the merits of the case are weak. There are a lot of financial people out there who will testify to anything for a not-so-modest fee.

What is mortgage fraud?

Generally, mortgage fraud occurs when an institution or person misleads or deceives you into entering a misguided loan so that they can make additional profit. The institution or person can be a bank, lender, appraiser, mortgage broker, real estate broker, or other individual.

What happens if you sue for less than $10,000?

For example, if you sue for $10,000 and have a strong case, you might not want to settle for less than $9,000.

What is consequential damages?

Consequential damages are any injuries suffered as a consequence of the fraud.

What is HECM mortgage?

Home equity conversion mortgages (HECM). The Federal Housing Authority provides reverse mortgages to people over 62 who have no loan (or only a small loan) on their property. With the reverse mortgage, you get a lump sum payment in exchange for the mortgage.

What is the job of the Attorney General?

The attorney general is responsible for protecting consumers and being the chief attorney for the people of their state. In California, for example, the attorney general expanded the prosecution of mortgage-related fraud after the debt crisis in 2008. They also established a task force to investigate these frauds.

Where to report fraud in real estate?

Report fraud to the bureau of real estate. If you worked with a real estate agent or broker who you feel defrauded you, you can file a complaint with your state's agency that regulated real estate. In California, for example, it is the Bureau of Real Estate within the Department of Consumer Affairs.

What is the purpose of a closing argument?

The purpose of the closing argument is to tie together all of the evidence and show how it supports your case. You should refer to specific pieces of evidence in your closing argument.