After the preliminary hearing, the district court entered a narrowly-tailored injunction. I.say file, file and get an attorney. Greed tree was billing me for the convenience fees to which I refused to pay so several times per day they would call and harass me for the convenience fees. Related documents Order Complaint FTC Press Release Press release [3], Powers introduced "People Are Smart," an advertising campaign that leveraged GMAC's reputation as a responsible lender and stressed the importance of making prudent decisions based on expert advice provided by ditech.com loan consultants. Phone: Web: Category: Mortgage Companies Greentree Financial ripoff Tempe Arizona Business Rating: Rate this business Tell us has your experience with this business or person been good? Id. If a borrower is in the process of foreclosure, it must be halted while the company reaches out to borrowers and evaluates other potential loss mitigation options. I did call Ditech. I was forclosed on just before the lawsuit was awarded and Ditect are still sending me statements to pay morgage payments? What happened Greentree Mortgage? Told us to get out immediately they were so hateful would not help in any way at all. What happened Greentree Mortgage? Green Tree Financial provide information about financial solutions so you can make choices that are right and affordable for you. 1994), aff'd in relevant part, 82 F.3d 785 (8th Cir. Ditech Financial LLC (rebranded from ditech Mortgage and "Green Tree Servicing" in 2015) was a provider of home loan, loan servicing and refinance products to consumers and institutional partners in the U.S.[1]. Green Tree mortgage servicing company will pay $63 million to settle federal charges that it harmed homeowners with illegal loan servicing and debt collection practices. Conseco is a Delaware financial services company with its principal place of business in Minnesota. In fact, Green Tree's parent company, Walter Investment Management Corp. (WAC), is merging Green Tree with another of Walter Investment's well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter . Indeed, the conduct involved repeated actions in multiple offices.13 North American's actions also involved trickery and deceit, and an utter disregard for Conseco and-even more heinously-the privacy of its customers. Ditech added money on to my principal? Greentree Financial Group's phone number is (954) 424-2345 What is Greentree Financial Group's official website? Our online loans service can give . Finally, we turn our attention to the punitive damage award and consider the three distinct challenges raised by North American-whether the award was (1) against the weight of the evidence, (2) in violation of due process, and (3) grossly excessive. .We never recieved a Hamp..They did the old bait and switch on us..We ended up with a streamline modification with $23,000 tacked onto a 40 yr loan..What a joke! Thanks in advance. Tempe, AZ 85283. However, a corporate defendant is required to pay punitive damages so long as the employees were acting within the scope of their employment. The company held sponsorships on Hendrick's part-time #44 car, as well as the #87 car on Busch Series level. Please help me resolve this with ditech. I had a modification done with Bank Of America. [2] It also announced a corporate re-branding with its servicing affiliate, Green Tree Servicing, which took place in 2015. thank you Jill Hardwick. [3], In 2005, DiTech was organized as a business unit of Residential Capital, LLC (often referred to as "ResCap"), which controlled mortgage-related subsidiaries owned by General Motors Corporation. (Jul-23-03) [PIONEER PRESS] And yes, they do call several times a day. Readying correspondence to: FTC and others along with copies to EACH house member and Senate with original to President of USA. Pursuant to the requirements of the Order, The estate is no longer able to further process the return of any unclaimed borrower funds. Ruby M Eisenring 321-333-2271, We refinance our home with Greentree which eventually transferred to Ditech. The FDIC has assembled useful information . Next, North American claims that because the Missouri Uniform Trade Secrets Act has replaced all common-law remedies, no tort claim is maintainable unless the information qualifies as a "trade secret" under the statute. At trial, Conseco's evidence established that thousands of Conseco's lead sheets were in North American's possession, that employees worked simultaneously for both companies, that Conseco's loan documents were faxed to senior management at North American, and that employees from several of Conseco's offices had taken Conseco's loan documents to North American.3 Conseco offered expert testimony that approximately five percent of Conseco's lead sheets result in funded loans, each with an average-net profit per loan of $4,000. The Mortgage Refinance Process: Step-by-Step Guide, How to Lower Your Mortgage Rate Without Refinancing. Green Tree Servicing, LLC | Consumer Financial Protection Bureau Enforcement Actions Green Tree Servicing, LLC CFPB and the Federal Trade Commission took action against Green Tree Servicing, LLC, for mistreating mortgage borrowers who were trying to save their homes from foreclosure. Yeah, I almost deserve this. Conseco generates potential customer leads through a computerized database, which Conseco developed, that analyzes financial information from over forty million individuals.2 Conseco's computer program identifies individuals who might "benefit" from its debt-consolidation services and compiles a list of the potential customers, which is sent to Conseco's branch offices throughout the country in the form of "customer lead sheets. Fed. Introduction. Sign up for our free summaries and get the latest delivered directly to you. 2d 809 (1996). Not stressful at all. I. Ops manager used to try to say no one uses restroom first 3 hours of shift. Bank of America really cost me a lot of money for their role in this sale to an unscrupulous company. The company collapsed under a huge debt load resulting from a rash of acquisitions in the 1990s, including the $6 billion purchase of Green Tree, the nation's largest lender to mobile-home. Bristol testified that he believed between one to six of these leads resulted in new business for North American. Conseco Inc., a major provider of life and health insurance, agreed to acquire Green Tree Financial Corp., a subprime-market lender best known for financing mobile-home purchases, in a stock. We have been a victim of Green Tree / Ditech / Shellpoint abuse and excessive charge of fees. North American argued in its Rule 50(a) motion (styled "Motion for Directed Verdict") that Conseco "failed to offer sufficient proof that it sustained damages that were proximately caused by [North American's] use or misappropriation of trade secret documents." Walsh, 332 F.3d at 1159; LeSueur Creamery, Inc. v. Haskon, Inc., 660 F.2d 342, 346 n. 7 (8th Cir. They owe me 27,000.00 estimated. STE. Thank you. Susan, If u would look at the back of your billing statements, it will tell you where to file your complaint. He would lie to my husband and ask why I wouldnt speak to him. R. Civ. I have a mortgage with Ditech (prev Greentree). Another time they lost my payments and threatened foreclosure again. 1998). She is being bamboozled herself. Required fields are marked *. He even called my elderly parents and harassed them. From loan selection to approval and closing, we reduce the complexities and hassles involved in the entire process. In response, Conseco contends that North American failed to comply with the requirements of Fed. I bought my mobile home Like in 1995 and I was kicked out of my mobile home Like in 2015. It appears to me that they came up with this idea claiming not receiving it in the mail to not pay all or some. If thats not enough, Green Tree also allegedly called delinquent borrowers seven to 20 times a day if they were two weeks or more past due, sometimes as early as 5 A.M. or as late as 11 P.M. According to Missouri law, a "trade secret" is information-including but not limited to-technical or nontechnical data, a formula, pattern, compilation, program, device, method, technique, or process that derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use. Cooper Indus., Inc. v. Leatherman Tool Group, Inc., 532 U.S. 424, 435, 121 S. Ct. 1678, 149 L. Ed. Can someone please help me understand this!!!! The net worth of North American is approximately $3.6 billion.9 Here, the jury awarded punitive damages of $18 million and compensatory damages of $3.5 million, resulting in a 5.14 to 1 ratio. I just found this article and learned that I may be able to recoup the convenience service fees of $12 I paid multiple times to Green Tree. ", Conseco organizes these lead sheets according to color-the most promising are colored red, leads that are considered good are colored white, and merely decent leads are colored blue. Both encouragedays us to be 90 days delinquent. Ins. In our review of the punitive damages award, the Supreme Court instructs us to consider three guideposts: (1) the degree of reprehensibility of the defendant's misconduct; (2) the disparity between the actual or potential harm suffered by the plaintiff and the punitive damages award; and (3) the difference between the punitive damages awarded by the jury and the civil penalties authorized or imposed in comparable cases.11 Gore, 517 U.S. at 575, 116 S. Ct. 1589 (1996). The balance of the second was about $55k. R. Civ. The caller informed Mambretti that all of his personal financial information-which he had entrusted to Conseco-had moved with the loan originator to North American's St. Louis office. 2003)). I Totally agree with you, Ditech is a dirty mortgage company and they need to take in consideration that this person is making money off of the people that is making purchases and they tell Constantly that they are going to foreclose on your home I believe the federal government needs to step in on them and make them pay everyone back the money that they have ripped off of people, I purchased a mobile home through Green tree which is now ditech , and the mobile home was $38,000 and my down payment I put down was $3,800 and I financed $26,200 from dad tack which was green tree and I have paid over $120,000 and theyre still saying I still owe over $4000 and Im $4000 behind on payments and they are ripping me off big town on a $30,000 mobile home and I needed all accountable statements payments and they will not send them to me also theyre trying to say there was never any taxes paid on the mobile home and I have the proof and theyre also stating I had no homeowners insurance which I have proof this is a very dirty company and I do believe someone needs to look in to this they are ripping people off left and right. Mambretti learned this fact through a phone call from a North American loan originator. Conseco counters that while some of the information within these lead sheets can be harvested from these two sources, its proprietary computer program provides a unique depth of information that cannot be obtained from alternative sources and its loan files contain confidential customer information. 4th 495 (2008), held that the test for whether stipulated damages constitute an unenforceable penalty or an enforceable liquidated damages provision centers on whether the damages were a reasonable anticipation of harm caused by breach of the settlement . 1150 (E.D. Upon arriving at North American, Bristol gave these names and numbers to loan originators as leads, who contacted these former Conseco customers. The court rejected this argument noting that this was a geographic area where everyone knows everyone else, "and you simply need to `see and ask'" to identify customers. Mortgage service providers take advantage of borrowers and no one cares much to help us and monitor the bad lenders. See Mo. I faxed all information to them, that was available to me.. Needless to say it has been a fiasco.. Now the are threatening default on loan.. Its ridiculous to try and deal with this company.. Told different amounts even one rep stated it would be forgiven..I have no idea of what else to do..this is just another proof of the fleecing of America, I want to fill out a class action settlement form where do I get one for greentree. We agree that both the lead sheets and the information contained in these customer files constitute trade secrets under the act. All the while making my monthly mortgage payments I was wondering WHY my principal balance was not decreasing (4-year period), and the REASON WHY is because all but $100 was going to the INTEREST WHAT THE HECK DID THEY DO WITH MY INTEREST (As it was a LOCKED rate) BUT apparently not under the LOAN MOD!!
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