The Arizona Republic reported today that twin federal lawsuits filed in Phoenix and Seattle accuse the nation's two biggest mortgage lenders of using their industry muscle to twist the independent home-appraisal process into a corrupt moneymaking scheme.To read more (from the plaintiffs' perspective), go to Hagen Berman's press room.
Seattle-based law firm Hagens Berman Sobol Shapiro LLP filed the lawsuits and is seeking class-action status in both cases.
The cases are Clark v. Countrywide Home Loans Inc, No. 2:2009cv00036 (W.D. Wash., Judge Pechman) and Gomez v. Wells Fargo Bank NA, No. 2:2009cv00181 (D. Ariz., Judge Snow).