Consumer Protection

Fairbanks Capital Mortgage Loans

Result: $55 million settlement
Year: 2004

Curry v. Fairbanks Capital Corporation

In 2004, the Court approved a $55 million settlement of a class action lawsuit against Fairbanks Capital Corporation arising out of charges against Fairbanks of misconduct in servicing its customers’ mortgage loans.

The settlement also required substantial changes in Fairbanks’ business practices and established a default resolution program to limit the imposition of fees and foreclosure proceedings against Fairbanks’ customers.

Lieff Cabraser served as nationwide Co-Lead Counsel for the homeowners.