Ohio AG Ready To Sue A ‘Dozen’ Servicers, If Necessary

Posted by Orb Staff on September 09, 2009 No Comments
Categories : Mortgage Servicing

Ohio Attorney General Richard Cordray, who in July became the first attorney general to sue a servicer since the onset of the foreclosure crisis, says more servicers are in line for lawsuits.

In an interview with Reuters, Cordray said his office is investigating several shops, which he declined to disclose given the ongoing nature of the investigations. Additionally, he hinted that lawsuits might start coming from the Justice and Treasury departments.

Cordray and the Ohio Department of Commerce sued Santa Ana, Calif.-based Carrington Mortgage Services in July for allegedly breaching its agreement with the state to offer reasonable loan modification to eligible borrowers.

‘We'd rather not sue everyone, but we will if we have to,’ he told Reuters. ‘If we have to sue a dozen of them, then we'll sue a dozen.’

SOURCE: Reuters

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