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BUSINESS - BRIEFS
Aurora lender deceived buyers, lawsuit claims
The Denver Post
POSTED: 08/21/2010 01:00:00 AM MDT
A Seattle law firm has sued Douglas County-based Aurora Loan Services on behalf of two California couples who claim the company lured them into expensive mortgage workout plans but then foreclosed on their homes with no notice.
The suit, filed by Hagens Berman Sobol Shapiro in U.S. District Court in San Jose, alleges that Aurora Loan Services reaped more than $100 million from such plans. The suit seeks class-action certification.
"Aurora's workout plan was nothing more than a cynical ploy to take advantage of home owners desperate to hold onto their homes," said Hagens Berman managing partner Steve Berman.
Aurora Loan Services is a subsidiary of Lehman Brothers Holdings and originated roughly a third of the mortgages that the bankrupt investment bank securitized.
Read more: Aurora lender deceived buyers, lawsuit claims - The Denver Post http://www.denverpost.com/business/ci_15845445?source=rss#ixzz18yDt9Cvb
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
Aurora lender deceived buyers, lawsuit claims
The Denver Post
POSTED: 08/21/2010 01:00:00 AM MDT
A Seattle law firm has sued Douglas County-based Aurora Loan Services on behalf of two California couples who claim the company lured them into expensive mortgage workout plans but then foreclosed on their homes with no notice.
The suit, filed by Hagens Berman Sobol Shapiro in U.S. District Court in San Jose, alleges that Aurora Loan Services reaped more than $100 million from such plans. The suit seeks class-action certification.
"Aurora's workout plan was nothing more than a cynical ploy to take advantage of home owners desperate to hold onto their homes," said Hagens Berman managing partner Steve Berman.
Aurora Loan Services is a subsidiary of Lehman Brothers Holdings and originated roughly a third of the mortgages that the bankrupt investment bank securitized.
Read more: Aurora lender deceived buyers, lawsuit claims - The Denver Post http://www.denverpost.com/business/ci_15845445?source=rss#ixzz18yDt9Cvb
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse
작성일2010-12-23 12:58
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