Twin federal RICO lawsuits filed against the nation's two biggest mortgage lenders. : RICO Law Blog

Twin federal RICO lawsuits filed against the nation's two biggest mortgage lenders. : RICO Law Blog, Feb. 3, 2009:

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.


Seattle-based law firm Hagens Berman Sobol Shapiro LLP filed the lawsuits and is seeking class-action status in both cases.

To read more (from the plaintiffs' perspective), go to Hagen Berman's press room.

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).