Judge Orders Quicken Loans to Pay $2.7 Million Award to Homeowner in West Virginia Mortgage Fraud Case

Judge Orders Quicken Loans to Pay $2.7 Million Award in West Virginia Fraud Case

A West Virginia judge has slapped online mortgage giant Quicken Loans Inc. with more than $2.7 million in punitive damages and legal costs after finding the lender had defrauded a borrower by misleading her about her loan and using an inflated property appraisal.

Ohio County (W.Va.) Circuit Judge Arthur Recht awarded the borrower just under $2.17 million in punitive damages. He also ordered that Quicken pay her attorneys nearly $600,000 in legal fees and costs. In a ruling last year, Recht had called Quicken’s conduct “unconscionable.”

James Bordas, one of the attorneys who represented the borrower, said he hoped the award would send a message to struggling homeowners that “big companies can’t just come in and cheat them.”

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Lourie Brown vs Quicken Loans et al

2 Responses to “Judge Orders Quicken Loans to Pay $2.7 Million Award to Homeowner in West Virginia Mortgage Fraud Case”
  1. l vent says:

    CNBC just had an interview with a very interesting guest by the name of Lewis Raneri. He is the creator of the MBS and served on the board of Mortgage Builders for years. He stated that there are 2 and a half million more fraudclosures right now. There have been 1 and a half million fraudclosures. He said that “THE COUNTRY WILL COME APART AT THE SEAMS” if these 2 and a half million fraudclosures happen. He also stated that there is NO political will to fix housing. Now , isn’t that a SLAP IN OUR FACES by our “elected leaders”? He also spoke of the communities that have already been blighted by the fraudclosures that have produced empty homes producing no revenue for the communities,counties and states are failing because of this. Now, this begs the question, would they rather have a vacant home being uncared for, blighting communities and bankrupting states and, send us to live in apartments for upwards of a thousand a month in rent? Or, would they rather have us paying those hyper-inflated property taxes for upwards of a thousand a month and taking care of these homes that we clearly own anyway as they are HO– USE THIEVES. The banks need to eat their losses and the government needs to HALT FRAUDCLOSURES and lower those hyper-taxes until America gets back on her feet.. FRAUDCLOSURES are destroying and BANKRUPTING AMERICA. This clearly proves that this country cannot run without the middle class and the warfare needs to stop. If they think there is a budget gap now, just wait to see what the outcome of more fraudclosures will bring. The chaos this will cause in America will be unimaginable as the CNBC guest clearly stated,

  2. l vent says:

    Yes! It is about time. The law is the law. Cronyism between banks, attorneys and judges is like a cancer that is slowly destroying America and it needs to stop. These are the American peoples homes. No one is safe in a land where we can be terrorized by mortgage lenders and our own justice system is aiding and abetting these criminals. There will be no good outcome to this financial crisis if the American people lose their homes to the very same criminals who have helped the elite nearly bankrupt this country. If the banks are left to continue the theft of the peoples homes, there will be no one to pay the hyper-inflated property taxes and other tax impositions and the system will implode. These judges will lose their jobs when there are no homeowner’s left to pay for the theft of our wealth. They will then know how this feels and it does not feel like America when the American people can be terrorized by criminals and the Government sits back in its easy chair and watches the destruction of it’s own nation and it’s own people, the very people who built this great nation.

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