Legal News

Oklahoma Attorney General Shows the Right Manner to Deal with Mortgage Fraud
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Well, most other states who entered a national settlement with Bank of America, Citigroup, JP Morgan Chase, GMAC and Wells Fargo on behalf of mortgage fraud victims, cannot claim to have the spine of Scott Pruitt, the Attorney General of Oklahoma.

Scott did not enter the national settlement but chose to fight through the battle on behalf of Oklahoma residents who had been victims of deceptive mortgage practices of big banks. The banks had to settle with Oklahoma separately.

And on Monday, a Tulsa family received their $20,000 check resulting from Pruitt’s courageous act. The family had lost their home in a sheriff’s sale while the bank kept assuring that their mortgage would be modified.

  
What
Where


According to experts, Oklahoma victims of mortgage fraud in this case would be receiving at least 10 times what those in other states would receive in a similar situation. Diane Clay, spokeswoman for Scott Pruitt said “This is a vindication for the risk he took … He took a lot of criticism for it.”

On Monday, Pruitt presented Zach and Melissa Zuniga of Tulsa with a $ 20,000 check while more such checks are expected to be issued each week up to and through January. While, in Oklahoma, victims of mortgage fraud by the banks would be receiving sums ranging from $5000 to $20,000, Clay confirmed that outside Oklahoma, some victims may receive payments as low as $840.

The settlement is for victims of “dual tracking,” where on one hand the banks assured victims that their mortgages would be modified, while on the other hand they moved for foreclosure of the properties. In the case of the Zunigas, the family had only 14 days to leave their house of 23 years, and three days after their home was sold, received a third modification package.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




In a statement Pruitt said, “These families endured horrendous conduct, lost their homes in many cases and deserve more than an ‘I’m sorry’ and a few hundred dollars.”

In states like Nevada and California, tens of thousands of people lost their homes due to unfair foreclosure practices by the same banks, but would likely receive only a few hundred dollars each.





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Tax Associate Attorney

USA-CA-Los Angeles

Los Angeles office of an AmLaw firm seeks mid-level tax associate attorney with 3-5 years of experie...

Apply Now

Real Estate/Transactional Attorney

USA-PA-Camp Hill

Camp Hill office of our client seeks real estate/transactional attorney with experience. The candida...

Apply Now

Corporate Attorney

USA-WY-Laramie

Laramie office of our client seeks corporate attorney with 2+ years of experience.

Apply Now

RELEVANT JOBS

Associate Attorney

USA-CA-Novato

Attorneys helping people........Brayton Purcell LLP is an extremely busy plaintiff\'s litigation pra...

Apply now

Casualty Attorney II

USA-CA-Irvine

Kuluva, Armijo & Garcia is seeking an experienced and skilled California litigator for the position ...

Apply now

Legal Assistant / Paralegal

USA-FL-Tavares

Tavares boutique and growing law firm is looking for a full-time legal assistant / paralegal to work...

Apply now

Litigation Associate Attorney

USA-CA-San Francisco

Andrus Anderson LLP is a plaintiffs’ firm in San Francisco looking for a full-time associate w...

Apply now

SEARCH IN ARCHIVE

To Top