Lieff Cabraser & Co-Counsel Reach $35M Settlement with Bank of America in California Unpaid Mortgage Interest Case

Lieff Cabraser & Co-Counsel Reach $35M Settlement with Bank of America in California Unpaid Mortgage Interest Case

As reported by Law360 (subscription), Bank of America North America has agreed to pay $35 million to settle a borrower class action lawsuit accusing the company of failing to comply with a California law requiring banks to pay interest on mortgage escrow accounts. [Read more…]

First Amended Complaint Filed in Select Portfolio Servicing Mortgage Fraud Litigation

High-cost mortgage loans

Lieff Cabraser has filed the First Amended Class Action Complaint on behalf of plaintiffs in the federal lawsuit in New York alleging that Select Portfolio Servicing, Inc. is defrauding customers through improper interest rate change calculations and illegal collection of late fees on post-acceleration mortgage loans. As a result of the improper practices detailed in the complaint, SPS customers are overpaying for their mortgage loans. [Read more…]