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Lawsuit filed against lenders over Nevada foreclosures

A lawsuit filed in Nevada against six mortgage companies accuses the businesses of improperly foreclosing on homeowners in the state. The attorneys who filed the litigation on behalf of 16 plaintiffs claimed that the defendants committed elder abuse and fraud. The suit is seeking class-action status, with thousands of potential plaintiffs, the attorneys said.

The plaintiffs are Nevada residents who lost their homes to foreclosure. According to the lawsuit, the defendants, which include two Nevada companies and several others from other western states, were not licensed to act as debt collectors in the state but nevertheless pursued collections against the plaintiffs. Some of the plaintiffs were age 60 or above, leading to the lawsuit's charge of elder abuse. One of the attorneys described his clients as having lost their homes due in part to "foreclosure companies that did not follow the law during the foreclosure process." There are "thousands" of potential plaintiffs in the suit, the attorney said.

The accused companies include Appleton Properties LLC, which is described as a Nevada company, and Meridian Foreclosure Service, a Nevada and California company which does business under the names MTDS Inc. and Meridian Trust Deed Service. The four other defendants are Quality Loan Service Corp., MTC Financial Inc., National Default Servicing Corp. and California Reconveyance Co.

The plaintiffs are seeking unspecified damages, as well as the return of fees charged in the foreclosure process. The lawsuit describes the collection of the fees as inappropriate because of the defendants' "illegal and improper debt-collection activities."

Source: VEGAS INC, "Attorneys hit Nevada foreclosure processors with class-action suit," Steve Green, Jan. 30, 2012

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