SANTA ANA, Calif. (CN) - The National Organization of Assistance For Homeowners of California say Wells Fargo and a slew of others violated their own guidelines to sell plaintiffs' mortgages above their actual vales to bulk investors, knowing the scheme would result in a liquidity crisis that would gravely damage plaintiffs. Click 'Banks' headline to see the defendants.
Here are the defendants in the seven complaints in Orange County Court: Mortgage Electronic Registration Systems Inc.; EMC Mortgage and Central Mortgage Co.; Wells Fargo Bank and Wachovia Financial Services; IndyMac Mortgage Services; Aurora Loan Services; Ocwen Financial Corp., Saxon Mortgage Services, HomeQ Servicing Corp. and Downey Savings & Loan Assoc.; and Chase Bank and Washington Mutual Bank.
Subscribe to Closing Arguments
Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.