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New Mexico AG Files Suits
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May 14, 2009
Two lawsuits have been filed against multiple defendants taking advantage of borrowers. In one case, loan documents were allegedly falsified and forged in order to secure a mortgage loan in the name of a 78-year-old woman living on $500 per month social security.
The Office of Attorney General Gary King filed charges against Deutsche Bank, US Bancorp, Saxon Mortgage Brokerage, North American Specialty Insurance Co., Orlinda Martinez, Angelica Duran and Mountain View Mortgage for their roles in the alleged fraudulent conduct in securing a $175,000 mortgage for a senior whose income is only $500 a month.
The second lawsuit charges that Zia Trust Co., Discount Mortgage Co., Hartford Ins Co., Wendy and Mik Montoya and Robert L. Garretson took advantage of an elderly couple when securing a $42,000 mortgage loan, including overcharging of brokerage fees.
Read story at New Mexico Attorney General
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