PRESS RELEASE


Mortgage Attorneys See Surge in Cases


DALLAS -- (Dec. 1, 2008) Legal actions tied to mortgage compliance, mortgage fraud and regulatory orders have surged, according to the Third Quarter Mortgage Litigation Report released by http://www.MortgageDaily.com. The report, based on active 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.

Lawsuits and regulatory actions tied to compliance violations totaled 18 in the third quarter, rising from just three cases covered in the prior quarter. During the first quarter, just one case was tracked. Third-quarter compliance actions were concentrated on RESPA and TILA violations.

Cases involving mortgage fraud totaled 18 during the latest period, up from seven during the second quarter. Only three fraud cases were tracked in the first quarter. Individual criminal cases were generally excluded.

The third quarter report was the first time regulatory actions against financial institutions and mortgage licensees were covered in the report. The number of actions tracked was 126. Much of the activity was tied to bank regulator actions against undercapitalized institutions.

A total of 200 active cases were tracked in the latest report. Many fell into more than one of the 30 categories covered. Excluding regulatory actions, 74 cases were tracked -- soaring from 45 in the second quarter and 42 cases in the first quarter. During all of last year, 195 cases were tracked.

Some other areas where mortgage litigation activity was heavy are included in the following table:

Read the full Third Quarter 2008 Mortgage Litigation Report at:
http://www.mortgagedaily.com/LitigationQ308Report120108.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. Read more about Weiner Brodsky at http://www.wbsk.com.


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


Source: MortgageDaily.com