Earthtimes (04/21/08)
MortgageDaily.com's First Quarter 2008 Mortgage Litigation Report shows a jump in legal battles fought by mortgage servicers due to increases in delinquencies, bankruptcies and foreclosures. The report indicates nine secondary marketing lawsuits in the first quarter, with the total for 2008 likely exceeding the 23 cases recorded in 2007. Also during the January through March period, MortgageDaily.com tracked nine foreclosure cases and eight bankruptcy cases, versus 11 foreclosure cases and five bankruptcy cases for all of last year. There were a half-dozen servicing-related cases tracked in the first quarter, compared to 14 for all of 2007; but investor lawsuits appear to be on the decline, with just nine tracked during the first quarter and 53 monitored last year.
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