SUBMITTED: Wednesday, December 14, 2005
POSTED: Wednesday, December 14, 2005
>This was pulled from the web<
Way to go! 11/30/05 at 03:36 PM
Ocwen Hit With $11.5M Verdict
A county jury in Galveston, Texas, has awarded a Texas woman $11.5 million in damages and attorneys' fees, finding that Ocwen Federal Bank engaged in "unfair, unlawful, and deceptive" loan servicing practices, according to attorneys for the plaintiff. According to the complaint, 64 year-old Sealy Davis took out a home equity loan secured by her Texas residence in 2002, and Ocwen serviced the loan. The complaint alleges that after Ms. Davis missed a payment due to illness, Ocwen failed to credit her for money that had been paid and began to foreclose upon her home while assuring her that she was on a repayment plan. In reaching the civil verdict, the jury voted 10 to 2 in favor of the plaintiff and against Ocwen, the defendant in the case. Ms. Davis's lead attorney was Robert Hilliard, who says he has an additional 100 clients with similar predatory-servicing complaints against Ocwen. Ocwen was preparing a response to the jury award that was not yet available by MortgageWire's deadline.
Stephen 11/30/05 at 04:09 PM
It's about damned time!!!
Sinking Ships 11/30/05 at 09:37 PM
Links! I need links to articles !!!! Pretty please?
summer 11/30/05 at 10:17 PM
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LawFuel.com November 30
MSFraud 12/01/05 at 12:21 AM
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Link to press release on Ocwen case.
http://msfraud.org/Articles/Ocwen%20Hit%20With%20$11.5%20Million%20Verdict.doc
Sinking Ships 12/01/05 at 09:49 AM
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TY TY!! Meeting with my attorney to develop litigation and needed a source to reference.
PRECEDENCE FOR DAMAGES!! 12/12/05 at 12:31 PM
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Now comes the BIG QUESTION.....can we use the Ocwen $11.5 MILLION
JURY VERDICT as CASE PRECEDENCE so that we INDIVIDUAL VICTIMS can get the DAMAGES we so richly deserve...??!! (Actually...there is NO AMOUNT OF MONEY that can ever make us WHOLE AGAIN...!!! .
We should concentrate on finding Attorneys in our own Individual States that will carry this (JUSTICE) ball for us...!!
Dee 12/12/05 at 02:49 PM
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Now comes the BIG QUESTION.....can we use the Ocwen $11.5 MILLION
JURY VERDICT as CASE PRECEDENCE so that we INDIVIDUAL VICTIMS can get the DAMAGES we so richly deserve...??!!
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Actually, the next big question is.....is Ocwen going to appeal this verdict.
If so, then get ready to see if the appeals court reverses this verdict.
A verdict by this lower court isn't considered a precedent case.
If Ocwen loses all its appeals, then it becomes a precedent.
Juries are most likely the ones that will have a mortgage and empathize
with the plaintiff.
The judges up the ladder may be more likely not to have a mortgage.
If Ocwen thinks this is a loser case on appeal, they most likely will appeal the decision and then try to settle with this woman so there is no admission of wrong doing. That is their pattern. Although it is just a guess on my part,
I see them doing whatever they can from turning this into a precedent case.
Let's hope the woman isn't homeless and desperate and can wait out the appeals process.
If the borrower's attorney really has 100 more cases this case will mean a lot to him because attorney fees on a hundred more of these cases would mean early retirement for him. He would get at least 1/3 of the jury verdict.
It will be interesting to see what he does.
Keeping my fingers crossed this borrower can hold up through the appeals process.
Dee
THE GOOD NEWS! Yesterday at 07:53 PM
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.....Another LARGE CRACK in the Mtge Racketeers' Dam of Denial can be
CLEARLY SEEN...!!