I did not know at that time that these 80/20 Countrywide loans that went to Bank of America then Greentree and Nationstar that are sister companies were playing me the whole time. Terms of Service. They did the same to me. Under this standard, the district court will only be reversed when "its ruling is obviously insupportable." We agree that both the lead sheets and the information contained in these customer files constitute trade secrets under the act. Workers, 34 F.3d 1148, 1155 (2d Cir. Am., 408 F.2d 500, 503 (8th Cir. . T213. Witnesses for both parties testified that the information contained in these files was recognized by all Conseco employees as confidential, and therefore not to be disclosed. [3], In 1999, DiTech was acquired by GMAC (now Ally Financial), then owned by General Motors. In Vigoro, the court noted that if the contacts had been located throughout the country the information would have been considered to be a trade secret. Lawsuit, Mortgage with GreenTree/Conseco/Ditech/New Rez-ShellPoint since 1995. Sincerely. Touch with the entity that is hosting the class action. I did file with CFPB and the FTC and I got a check for $10.00 after I lost my house I am still setting in my driveway living in my RV. the combining form for plasma minus the clotting proteins is what happened to greentree financial GREEN TREE, Pa. . How does a former employee get compensated? After considering Conseco Finance Servicing Corporation's (Conseco's) 1 unfair competition and tortious interference claims against North American Mortgage Company (North American), a jury returned a verdict against North American on each of the claims and awarded Conseco $3.5 million in actual damages and $18 million in punitive damages. I paid extra on my home every month until I got hurt on the job. Green Tree has been accused of some pretty bad stuff, Including warning delinquent homeowners of imprisonment, And doing little to help borrowers keep their homes, Along with harassing phone calls and unresponsive customer service, Any temporary loan modifications must be made permanent, And all active foreclosures must be halted, While the company evaluates loss mitigation alternatives. what do I do now? Mathias v. Accor Economy Lodging, Inc., 347 F.3d 672, 676 (7th Cir. We got calls..sometimes two or three a day. 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. Podner said he copied the files in order to aid an employee who wished to make the transition to loan originator. Conseco also asked that North American return all of the information that it had acquired from Conseco's former employees. Havent paid them in over 2 years. He would lie to my husband and ask why I wouldnt speak to him. There needs to be a class action lawsuit against these arm twisting loan sharks! Auto. They owe me 27,000.00 estimated. R. Civ. Pony Comp., Inc. v. Equus Comp. thank you Jill Hardwick. If the Rule 50(a) motion is denied and the case is submitted to a jury, the movant must renew the motion once again in order to preserve the issue for appeal. In 1995, John Paul Reddam founded DiTech Funding Corporation (DiTech) in Costa Mesa, California. After the jury returned a verdict against North American on each of the claims, North American filed several post-trial motions, primarily relating to the damage awards. Galdieri-Ambrosini v. Nat'l Realty & Dev. 1996). It appears to me that they came up with this idea claiming not receiving it in the mail to not pay all or some. By the end of August, Green Tree will be no more. They then changed their name to Ditech which was just as bad or worse and then filed bankruptcy, selling off the mortgages, who is not much better. Ive been a customer since 2002. Florida Office R. Chris Cottone Greentree Financial Group, Inc. 1000 S. Pine Island Road, Suite 210 Plantation, FL 33324 The auction for former Green Tree Financial in St. Paul, held Tuesday in Chicago, resulted in a Wednesday morning deal, according to news reports. Financed through Greentree in 1995 then went to ditech then shellpoint aka new rez llc even more shady. Furthermore, Conseco takes reasonable steps to ensure the secrecy of these files. They sent me wrong documents, pretend they dont have them and are also scamming borrowers. On appeal, North American questions not whether Conseco proved sufficient connection of its damages to North American's alleged wrongful conduct but whether Conseco proved it had incurred damages at all. In support of this motion, Conseco identified three former employees that it alleged had misappropriated its trade secrets. My Manager sold my Mobile Home to a Mexican for like $500.00 When I was thrown out of my home I still owed like $33,000.00 on my Mobile Home. Pulse they put on my credit report that I was evicted. P. 50(b); Martin H. Redish, 9 Moore's Federal Practice 50.41 (3d ed.2003). It is important to note that this is a foreign filing. Youll be paying these peoples to your Death. CFPB Director Richard Cordray said in a release that the company failed consumers who were struggling by prioritizing collecting payments over helping homeowners.. We will leave the question of whether tortious interference remains an independent claim to another court and another day. Kimzey v. Wal-Mart Stores, Inc., 107 F.3d 568, 576 (8th Cir. Conseco asserts that Kevin Kattleman, Kevin Podner, and Scott Bristol all removed customer loan files-or copies of the files-from Conseco's offices. Accordingly, we find no error in the submission, This figure is based on the net worth of North American Mortgage, a division of Dime Savings Bank of New York. [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. File it with the cfpb and ftc. [7], In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap. Its unclear how much compensation each borrower will receive, but victims who receive money from this enforcement action can also pursue their own individual claims against the company. Calls throughout the day and weekend threatening jail time and foreclosure. North American sought this information in an attempt to pursue Conseco's loan customers and business leads. 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 . It did not, and by failing to do so, North American forfeited its argument to the extent that it was not forfeited by the failure to assert those grounds in their Rule 50(a) motion, We agree with the district court that the common-law claim of unfair competition has likely been replaced by the statutory offense described in the Missouri Trade Secrets Act. You already receive all suggested Justia Opinion Summary Newsletters. Greentree Financial Advisors [ Impersonators of Genuine Firms ] 2408 Richmond Road Staten Island, NY 10306 Fax: 718-732-2047 After the preliminary hearing, the district court entered a narrowly-tailored injunction. They were not interested in helping us modify our loan even though we qualified. After considering Conseco Finance Servicing Corporation's (Conseco's)1 unfair competition and tortious interference claims against North American Mortgage Company (North American), a jury returned a verdict against North American on each of the claims and awarded Conseco $3.5 million in actual damages and $18 million in punitive damages. This company or like vultures and dont care whom they may devour. Please put my name on a Class Action Suit. Now, i cant get in touch with anyone to get my balance? Hey my name is Patricia I purchased a brand new mobile home from her in 1997 and they are telling me to this day Im still paying on the interest its been 24 years Greentree got bought out so Im still paying interest the trailer was only 40,000!! At the close of the evidence, North American sought judgment as a matter of law arguing that the there was no causal connection between the alleged wrongdoing and the damages. They demonstrate what should be obvious: Single-digit multipliers are more likely to comport with due process, while still achieving the State's goals of deterrence and retribution, than awards with ratios of 500 to 1 [as in Gore], or in this case, of 145 to 1." Mark S. Wasinger and John B. Morthland of Hannibal, MO appeared on the brief. The instant appeal ensued. Id. On appeal, North American argues that the district court erred when it 1) submitted the unfair competition claim to the jury, 2) failed to grant judgment as a matter of law, 3) found that the compensatory award was supported by the evidence, and 4) allowed the punitive damage award to stand. All I ever get is the run around. Then again on October 2016 another payment made but not applied. For its first assignment of error, North American directs our attention to Conseco's unfair competition claim that is founded on North American's alleged misuse of Conseco's trade secrets.5 North American argues that the district court erred in its initial decision to submit this claim to the jury and then in its subsequent declination to grant a judgment as a matter of law. 1998). Must Convert Temporary Loan Mods into Permanent Ones. We will consider the evidence in the light most favorable to the verdict, giving the prevailing party the benefit of all reasonable inferences, Id. Personally the FTC is probably a scam too. 1997). But that wasn't enough to put the company's troubles behind it. Mortgages are often transferred during the life of a loan, so consumers may find themselves locked in a relationship . I am a victim of Green Tree and Ditech can anyone do anything about it. No doubt the language of State Farm, in which the Supreme Court suggests that "four times the amount of compensatory damages might be close to the line of constitutional impropriety," is the foundation for North American's allegation of constitutional error. 2004) (quoting Sanchez v. Puerto Rico Oil Co., 37 F.3d 712, 716 (1st Cir. I would like to have my house back. [12], In 2012, during the mortgage crisis, Ally took its residential lending unit into bankruptcy in order to pay back the U.S. Treasury following its acceptance of bailout funds. With no place to go and my car was impounded, because my car broke down in a spot, at the mobile home park. If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings. However, North American neither returned the stolen information nor discouraged its employees' use of Conseco's loan files and lead sheets. As part of the agreement, Green Tree agreed to pay $48 million in restitution to victims, and a $15 million civil money penalty to the CFPB's Civil Penalty Fund for its illegal actions. We affirm in part and reverse in part. This went on for 6 months, sending me mail I hadnt made my payment when I had made it on time. My loan is FHA 7% 30 years, fixed rate, with PMI payments. Who do we talk to about a lawsuit? Consistent schedule, decent pay. Recent filings for GREEN TREE FINANCIAL SERVICES CORPORATION 22 Nov 2010 (651) 224-5017. Walsh, 332 F.3d at 1159; LeSueur Creamery, Inc. v. Haskon, Inc., 660 F.2d 342, 346 n. 7 (8th Cir. Several of these former Conseco employees resigned after receiving solicitations from North American. This corporate entity was filed approximately forty-six years ago on Monday, June 13, 1977 as recorded in documents filed with Texas Secretary of State. Quite the contrary, North American encouraged others in its offices to replicate the St. Louis scheme, and designated its St. Louis office as a "model" to expand into other cities. I had a loan modification with bank of america,the loan were sold to greentree and they cancel the modification,now i have been out of the house for 5months,and they havent made a move to toward claiming or taken control of this property,wish is theirs. A comprehensive . Galdieri-Ambrosini, 136 F.3d at 287. Even worse, delinquent borrowers who called Green Tree were automatically routed to debt collectors rather than a loss mitigation specialist. You're all set! I was diagnosed with breast cancer and just asked for a little guidance from them. We, however, affirmed the decision of the district court to deny the injunction. They are all in this together I trust none. It specializes in "servicing" (debt-collecting) subprime residential mortgages. Co. v. Campbell, 538 U.S. 408, 419, 123 S. Ct. 1513, 155 L. Ed. In 2013 we fell on hard times. GreenTree Inn Santa Fe is a budget friendly motel offering air conditioning in the rooms, and it is easy to stay connected during your stay as free wifi is offered to guests. CFN Investment Holdings will pay $700 million. Rule 50(a) requires that challenges to the sufficiency of the evidence must be raised initially at the close of the evidence. A712 WEST HOLLYWOOD CA 90069 United States Inactive Directors / Officers STEVEN D GREEN, chief executive officer STEVEN GREEN, agent Registry Page https://bizfileonline.sos.ca.gov/sear. Order Online. But according to a $63 million settlement announced by the FTC and CFPB, rather than service, Green Tree gave many homeowners the business.. 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. I was a victim of this as well from Green Tree, but I never received anything regarding this class action lawsuit. After several months I was told I wasnt making the right payment and I owed them almost $5000.00 And unless I paid this wthin 2 weeks They were forcloseing on my home, So I borrowred the money and paid them I dont have any idea how I am going to pay this back. The Supreme Court described the first Gore guidepost-the degree of reprehensibility of the defendant's conduct-as the most important indicium of the reasonableness of a punitive damages award. ", 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. I cannot get a bank to FHA streamline the $67, 000 mtg. "Why Ditech Brought Back a Precrisis Mortgage Brand", "Gale Directory of Company Histories: ditech.com", "GMAC Mortgage Will Acquire DiTech Funding", "ditech returning to the mortgage market in a big way", "GMAC moving Ditech operations to Fort Washington", "GMAC Posts Profit, Will Change Name to Ally Financial", "Deal Cut to Sell ResCap out of Bankruptcy Filed Today", "Say goodbye to Green Tree; company merging with Ditech", "Here's exactly how ditech is coming back into the market", "The ditech key to correspondent lending", "Operational Risk Management: Remembering 9/11: Teaching the Children", "Mortgage Company Ditech Holding Files for Bankruptcy Again", "Ditech Finds Two Buyers For Its Mortgage Servicing and Originations Business", https://en.wikipedia.org/w/index.php?title=Ditech&oldid=1089803136, Financial services companies established in 1995, Companies based in Costa Mesa, California, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 25 May 2022, at 18:38. In 2019 had a devastating hail storm that ruined my house 40,000 in damages and never could get ditech to repair the damage so I had my bankruptcy revised and took ditech off. They never did give me the interest rate they charged my, so 4yrs basically paid towards interest and my taxes.all but a freaking 100bux Please do contact me to see if I qualify for this class action suit! Hi Folks I am in need of my Title to my Modular Home I paid off in 2016, so I can sell my home. Before MORRIS SHEPPARD ARNOLD, RICHARD S. ARNOLD, and SMITH, Circuit Judges. But, to no avail. I had a modification done with Bank Of America. (1) how much will the typical victim be paid? Lastly, the company has been ordered to provide access to quality customer service so borrowers can actually save their homes from foreclosure instead of being pushed toward an arrangement that compensates Green Tree. In the year 2000 his salary increased to $400,000. The parties then chose an arbitrator, indeed the same arbitrator who was subsequently selected to arbitrate the Bazzles' dispute. To whom do I make my complaint? Green Tree has been accused of a number of abuses, including not honoring loan modification programs, delaying short sale decisions, and charging customers convenience fees when paying their mortgages. 655 (8th Cir. (800) 700 . Rapid Growth: Mid-1980s Through the Early 1990s Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. The company has also been ordered to halt all mortgage servicing violations, including how much consumers owe Green Tree. Thank you, Kim (ADD ME TO YOUR LIST). Just plain NASTY! Ark. Therefore, Conseco established a second misappropriation claim in regard to those specific loan files copied by Podner just prior to his resignation from Conseco. (651) 224-5017. The company has filed for Chapter 11 Bankruptcy for the second time in 14 months. Id. 2d 674 (2001). Cooper Indus., Inc. v. Leatherman Tool Group, Inc., 532 U.S. 424, 435, 121 S. Ct. 1678, 149 L. Ed. In March 2015, Ditech, along with Walter Investment affiliate Green Tree Servicing, announced the two would undergo a co-branding effort to become "Ditech Financial, A Walter Company," bringing Walter's origination and servicing entities together under one, recognizable brand name. Owning a mobile home we learned the hard way no one wants to help you. She is being bamboozled herself. 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. The complaint alleged ESI had failed to pay $45,000 due . Walsh, 332 F.3d at 1158 (quoting Rockport Pharm., Inc. v. Digital Simplistics, Inc., 53 F.3d 195, 197 (8th Cir. I was with Bank America and they turn me over to ripped off GreenTree Mortgage, and they GreenTree, up my loan to what they want, I called them and told me that they couldnt reach me, They up my APR and Loan Mortgage and said the could not get in touch with me. Business Outlook. what happened to greentree financial. Last month, HousingWire reported that Green Tree's days were numbered, after Green Tree's parent company, Walter Investment Management Corp. ( WAC ), announced quietly that it planned to merge. They were awful. Statement shows a breakdown of current payment due in terms of principal and interest. Ditech. Ins. Greentree Financial Group, Inc. 19720 Jetton Road, 3rd Floor Penthouse Cornelius, NC 28031 (704) 892-8733 Office (704) 892-6487 Fax mikebongiovanni@gtfinancial.com. and (3) Will the victims be required to apply for a settlement? However, North American also introduced several new legal theories-related to damages-not distinctly articulated in its "Directed Verdict Motion." [6][8] The loans were also low-documentation mortgages, or stated income loans, and many borrowers falsified their incomes. Since inception in 2013, New Residential has a proven track record of performance, growing and protecting the value of its assets while generating attractive risk-adjusted returns and delivering almost $3 billion in dividends to shareholders. As the name suggests, Green Tree Servicing was supposed to service homeowners' mortgages by collecting and crediting monthly payments. After all, a payback journey that's good for your credit is really what matters. We remand this case to the district court for entry of an amended judgment consistent with this opinion. Working with you to see the big picture, tailoring advice driven by your priorities that can then be addressed through a structured and . We were victims of Greentree. We tried to short sale but after 50 days on the market Greentree offered to do a Deed in lieu based on the second mortgage releasing the lien for 10% settlement.
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