Mortgage Servicing Litigation Grows

DALLAS, April 21 /PRNewswire/ -- Rising delinquencies, bankruptcies and
foreclosures left mortgage servicers fighting more legal actions, according
to the First Quarter 2008 Mortgage Litigation Report released by
http://www.MortgageDaily.com. The report, based on cases covered by
MortgageDaily.com, was prepared in conjunction with the law firm of Weiner
Brodsky Sidman Kider PC, which is known as a leader for its work in
mortgage banking litigation.

The report analyzed 42 cases covered by MortgageDaily.com that saw some
activity during the first quarter 2008.

Investor lawsuits are on track to ease from last year's pace, with nine
cases tracked during the latest quarter versus 53 cases tracked during all
of 2007. Nine secondary marketing lawsuits tracked are on pace to beat last
year's 23 actions.

From January through March, nine foreclosure cases were tracked,
compared to just 11 during all of last year. The cases often involved
challenges to foreclosure actions. While only five cases involving
bankruptcy litigation were tracked during 2007, eight cases were tracked
just in the first quarter. Servicing-related legal actions also appear on
the rise, with six cases tracked in the first quarter putting the category
on pace to exceed the 14 cases tracked for all of last year.

"Areas of growing activity appear to be those related to rising
delinquencies such as bankruptcy, foreclosures and servicing,"
MortgageDaily.com Publisher Sam Garcia said.




Category # of Cases

Advertising 1
Bankruptcy 8
Credit 3
Discrimination 2
Down Payment Assistance 1
Employment 6
Fees 2
Foreclosures 9
Fraud 3
Investor 9
Licenses 1
Net Branch 1
RESPA 1
Secondary Marketing 9
Servicing 6
Technology 1

Read the full First Quarter 2008 Mortgage Litigation Report at:
http://www.mortgagedaily.com/LitigationQ108Report042108.asp?spcode=pr

About MortgageDaily.com

Founded in 1998, MortgageDaily.com is a dominant mortgage industry news
source. Around one million mortgage business news pages are viewed monthly
at MortgageDaily.com and its affiliate publications.

About Weiner Brodsky Sidman Kider PC

Weiner Brodsky Sidman Kider PC has a nationwide residential mortgage
banking and financial services practice that offers full-service legal
representation and counseling for clients, with teams devoted to federal
and state licensing and regulatory compliance, transactions, representation
before government agencies and litigation, including the defense of
nationwide class action lawsuits against financial institutions and
settlement service providers.



CONTACT:
Sam Garcia
214.521.1300
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


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Source: Real Estate Newswire