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Stradling

GE Money Bank Wins Dismissal in Mortgage Lender Class Action

National Organization for the Assistance of Homeowners v. America's Servicing Co., et al.
  • Orange County Superior

Secured a dismissal on behalf of GE Money Bank in a mortgage class action/private attorney general action asserted against a huge number of mortgage lenders. The plaintiffs claimed that defendants used false appraisals that violated their own underwriting guidelines, with the intent to sell plaintiffs' mortgages above their actual vales to bulk investors knowing that the scheme would result in a liquidity crisis. *