Indeed, through possession of these loan files, Conseco is in a unique position of being able to analyze its customers' specific financial needs and identify those current customers who may need additional Conseco financial services. Greentree did nothing to help me resolve the situation. Sounds like there needs to be a class action lawsuit. In 2017 did chapter 13 bankruptcy and was paying ditech through that. I never received any kind of notice about a Class Action Law Suit. But according to a $63 million settlement announced by the FTC and CFPB, rather than service, Green Tree gave many homeowners the business.. She is being bamboozled herself. The balance of the second was about $55k. [13] In November 2012, Ditech was formed from assets of the estate of GMAC ResCap during the bankruptcy proceeding. What happened Greentree Mortgage? Who do I contact to file lawsuit and get justice and prove damages? Id. The Manager had my car towed away, and I couldnt afford to get it out of impound. Walsh, 332 F.3d at 1158 (quoting Cruz v. Local Union No. Still have all the negative reports and complaints about those company going some years ago. Conseco also filed a motion seeking a preliminary injunction and a permanent injunction to prevent the "raiding" of its employees. But that wasn't enough to put the company's troubles behind it. [3] The company's name was derived from the phrase direct technology.[3][4] DiTech became one of the first lenders to offer mortgages to the public online and via a toll-free number. However, we do not consider this offense to be "comparable" in either substance or magnitude-North American's actions were widespread and affected thousands of people, most without their knowledge, and involved confidential financial records. Workers, 34 F.3d 1148, 1155 (2d Cir. Mathias v. Accor Economy Lodging, Inc., 347 F.3d 672, 676 (7th Cir. I too was with BOA and while my home was in remod with BOA they dropped me & sold my loan. After all, a payback journey that's good for your credit is really what matters. He even called my elderly parents and harassed them. Who can I contact file a class action lawsuit against Green Tree, and Ditech? Is there anybody that can help recover something from Green Tree. On appeal, the district court's determination of punitive damages is reviewed under an abuse of discretion standard. It specializes in "servicing" (debt-collecting) subprime residential mortgages. The rep became short with me. [5][3] DiTech became a household name as a result of the commercials. That is my just due.i dont care how many times the sell or reinvent themselves, they are still the same company as far as I am concerned. North American responds that the Conseco employees engaged in these acts because of Conseco's financial woes, and that they were simply concerned about their livelihood. Further, because the common law and the statutory elements of the claim remain the same, any resulting error would likely be harmless. And will not tell me nothing, except, paid your payment, my lawyer told me I dont miss payments. I received my first notice from Ditech that my mortgage was in arrears..after speaking with several CSD representatives.. 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. How do I get into the law suit? These documents contained information concerning Conseco's internal operations, including monthly retail point income reports generated by each Conseco office, reports ranking the retail volume by branch, reports of retail loans funded by region, financial summaries of each branch, expense ratio reports, expense analysis reports, expense analysis retail volume variance reports, and reports on credit insurance protection. Join me to get resolution. Both motions were denied by the district court, and the case was submitted to the jury on Conseco's claims of unfair competition and tortious interference. In arguing that the lead sheets are not "trade secrets," North American principally relies on Vigoro Indus., Inc. v. Cleveland Chem. I was a victim of this as well from Green Tree, but I never received anything regarding this class action lawsuit. CNO Financial Group, Inc. (formerly Conseco, Inc. (from Consolidated National Security Corporation)) is a financial services holding company based in Carmel, Indiana. A due process violation occurs when the punitive damages imposed by the jury are grossly excessive. During this same period, Conseco's mortgage service division downsized. Sincerely. However, North American also introduced several new legal theories-related to damages-not distinctly articulated in its "Directed Verdict Motion." No one seems to know. Later, at trial, he admitted they were working for both companies at the same time. 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. 2d 674 (2001). Please help! 1969)). Be safe Family n friends. Conseco Inc., a major provider of life and health insurance, agreed to acquire Green Tree Financial Corp., a subprime-market lender best known for financing mobile-home purchases, in a stock. If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings. Where do I go? However, the jury (and the district court) rejected this theory, opting for an alternative explanation-North American's desire to expand into the subprime market, at any cost.14 North American has not shown that the jury's assessment of the facts was unreasonable. They settled for $5500 (BOA paid $3k and my Seller paid $2500) and Greentree WAIVED THEIR DEFFICIENCY RIGHTS!!! I am a victum of this bad service and been robbed right out of my bank account and experienced more illegal acts up until this day. Im 83 years old, Ive been harassed by Green Tree from the time I purchased the Mobile home in 2001, Ive saw the go from Conseco Finance, Ditech to all kinds of Finance companies, You want ever know who you dealing with, So who actually owns these companies now? Consistent schedule, decent pay. Corp. v. KCBS, Inc., 910 S.W.2d 329, 331-332 (Mo.App.1995). At both the close of Conseco's case and the close of all of the evidence, North American filed motions for directed verdict, which were argued before the court. If thats not enough, Green Tree also allegedly called delinquent borrowers seven to 20 times a day if they were two weeks or more past due, sometimes as early as 5 A.M. or as late as 11 P.M. I too was a victim of the Green Tree / Ditech scam. I sent cerified letter to the address Ive been sending my payment. Normally I just pay my bills without looking at where the money goes. They at least owe my husband an apology for the way they treated him during an awful time but know they arent decent enough for that. But I got rid of them. We paid by automatic draft, which we had to pay the service fee of twelve dollars to make payments. If colloquy between counsel and the trial court fleshes out the motion, it may provide the opposing party with the requisite notice. We, however, affirmed the decision of the district court to deny the injunction. However, the record is clear that the district court repeatedly rejected Conseco's requests that it be allowed to introduce evidence of North American's discovery abuses. Consequently, we agree with the district court that the lead sheets and the information contained in Conseco's customer loan files constitute trade secrets within the meaning of the Missouri Uniform Trade Secrets Act.6. Lyn-Flex West, Inc. v. Dieckhaus, 24 S.W.3d 693, 697-698 (Mo.App.1999). Ditech added money on to my principal? 417.453(4) (1995). (800) 700 . Apparently homeowners with prior foreclosure relief plans had their mortgages transferred to the company where they were not maintained, and instead asked that borrowers make their original, higher monthly payments. 1993). I Totally agree with you, Ditech is a dirty mortgage company and they need to take in consideration that this person is making money off of the people that is making purchases and they tell Constantly that they are going to foreclose on your home I believe the federal government needs to step in on them and make them pay everyone back the money that they have ripped off of people, I purchased a mobile home through Green tree which is now ditech , and the mobile home was $38,000 and my down payment I put down was $3,800 and I financed $26,200 from dad tack which was green tree and I have paid over $120,000 and theyre still saying I still owe over $4000 and Im $4000 behind on payments and they are ripping me off big town on a $30,000 mobile home and I needed all accountable statements payments and they will not send them to me also theyre trying to say there was never any taxes paid on the mobile home and I have the proof and theyre also stating I had no homeowners insurance which I have proof this is a very dirty company and I do believe someone needs to look in to this they are ripping people off left and right. Conseco appealed the district court's denial of injunctive relief as to its "raiding" claim. They are nothing but crooks. Now Green Tree has placed Lien on a separate Property I have already paid off. North American management consented to the document duplication by its employees. The district court, however, denied Conseco's remaining request for injunctive relief relating to North American's solicitation of its employees. Lackey v. Green Tree Financial Corp., 330 S. C. 388, 498 S. E. 2d 898 (1998). Podner said he copied the files in order to aid an employee who wished to make the transition to loan originator. 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. Fed. None of the entities below own or service loans . R. Civ. See Fed. Three years ago THE COURT RULED IN MY FAVOR against Green tree foreclosure with a FINAL JUDGEMENT WITH MERIT. Meridian Enters. [14], In March 2014, the company resumed originating loans using the Ditech name. These loan files included personal financial statements of Conseco customers, loan applications, appraisals, income calculation worksheets, W-2 forms, payroll information of Conseco customers, income calculation worksheets, tax returns, and bank statements of Conseco customers. 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. This is actually still happening. Bristol testified that he believed between one to six of these leads resulted in new business for North American. 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. What Credit Score Do You Need to Get a Mortgage? The Mortgage Refinance Process: Step-by-Step Guide, How to Lower Your Mortgage Rate Without Refinancing. [5][20] In May 2007, the company introduced a new marketing campaign, adding the tagline "People Are Smart" and including the signature line Home financing by GMAC to further help distinguish the Ditech brand from direct-to-consumer lenders of questionable repute. ", 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. Recent filings for GREEN TREE FINANCIAL SERVICES CORPORATION 22 Nov 2010 In some instances, the former Conseco office managers also took their staffs of loan originators with them to North American. The parties then chose an arbitrator, indeed the same arbitrator who was subsequently selected to arbitrate the Bazzles' dispute. North American moved for summary judgment, and the district court granted North American's motion as to misappropriation of customer lists and certain financial information. 1996). Does anyone know who to call for me to claim my refund? The endless calls at all times of day and night being that sick, and I am making a long story very short. As stated so eloquently-and simply-by Judge Posner of our sister circuit, "punitive damages should be proportional to the wrongfulness of the defendant's actions." In viewing this evidence in the light most favorable to the verdict, we hold there is ample evidence supporting each element of an unfair competition claim. Florida Office R. Chris Cottone Greentree Financial Group, Inc. 1000 S. Pine Island Road, Suite 210 Plantation, FL 33324 FEDERAL TRADE COMMISSION Headquarters Federal Trade Commission 600 Pennsylvania Avenue, NW Washington, DC 20580 Telephone: (202) 326-2222 Constitution Center Federal Trade Commission 400 7th St., SW Washington, DC 20024 Telephone: (202) 326-2222 NOTE: Send mail only to the 600 Pennsylvania Ave., NW (Headquarters) address above. Learn about the FDIC's mission, leadership, history, career opportunities, and more. I feel like they are trying not pay all or part of my $1000 per year for a total of $5000 for making all of my payments on time. 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. It was just a cycle. We agree that both the lead sheets and the information contained in these customer files constitute trade secrets under the act. He would lie to my husband and ask why I wouldnt speak to him. Jul 22, 2010 09:17 AM Like Anonymous Vikki Shore Susan, If u would look at the back of your billing statements, it will tell you where to file your complaint. I had a loan with Greentree which the company did unlawful practices who do I reach out to for compensation. These files were located in Kattleman's office at North American until he returned them to Conseco, as ordered by the district court in its TRO. Product Overview - Greentree is a modular system, allowing you to select just the functions you need for your business - with the flexibility to add further modules at a later date. 1981); Hinkle v. Christensen, 733 F.2d 74, 76 (8th Cir. Financial Services Company size 1,001-5,000 employees Headquarters Saint Paul, MN Type Public Company Founded 1975 Specialties Specialized Loan Servicer Locations Primary 345 St. Peter Street. "This court has made it very clear that where the court submits a single damage question for multiple claims and where the evidence supports the actual damage award on any of the claims, the award will not be set aside." How can I settle with them without paying. Thank you, Kim (ADD ME TO YOUR LIST). I asked for a payoff amount and they refused to give it. 7410 S Roosevelt St Ste. Under this standard, the district court will only be reversed when "its ruling is obviously insupportable." I lost a home to greentree then ditech, these people hired a company to come in and change the locks on my propertystole many belongings, sent list photos to ditech, company says theres no proof of the company doing any wrong doingthen out of the blueI had a $7,000 water bill claiming water running from my house to neighbors with a dry basement.. Kattleman testified that he was uncertain as to exactly how the customer loan files came to be located in his office at North American. I have been terribly harassed and thousands of dollars in late fees and interest charges for the past 6 years only to get my loan transferred 2 other times to other loan companies without resolve. As such, it captured over 25 percent of that business by 1993. I was used and abused by greentree ditech until January 30, 2018 when I refinanced and went with another provider all together! They tried to triple my mortgage payment when I paid what my mortgage payment actually was and had been for long time. Another time they lost my payments and threatened foreclosure again. This company or like vultures and dont care whom they may devour. In May 2014, Ditech announced its re-entry to the national housing market after it disappeared from the marketplace for five years during the subprime mortgage crisis in the late 2000s. Well GreenTree Financial went bankrupt and their accounts were taken over by Conseco Financial. 966, 968 (E.D. Green Tree is also barred from transferring loans in loss mitigation in or out of the company without all the proper paperwork and records in place. I was refused several times for a modification. I called them just yesterday and was directed straight to their collections department instead of customer service. (1) how much will the typical victim be paid? How can this be??? We paid until 2018 July. We review the district court's denial of a motion for judgment as a matter of law de novo, applying the same standard as the district court. On June 8, 2022 the Bankruptcy Court entered an Order governing the distribution of any unclaimed borrower funds remaining in the Ditech estate. Nothing happened. 1994)). Contact Information. However, the Court also explained that when compensatory damages are substantial, "perhaps [a punitive award] only equal to compensatory damages" may be appropriate. Conseco filed a three-count complaint alleging 1) misappropriation of trade secrets, 2) unfair competition, and 3) tortious interference with business relations. [19], Ditech is well known for television commercials that aired during the 2000s. However, he speculated that as many as ten of these former Conseco customers could have switched their business to North American. They were awful. All rights reserved. I have no escrow. It was their error. James & Devern Robertson, I purchased a trailer didnt know the greentrees name was on the title and I still havent received the title and I need that title because I paid the trailer all anybody can help me please do so. The court, relying on Greentree Financial Group, Inc. v. Execute Sports, Inc., 163 Cal. Between Green Tree and the Mobile Home Park Manager of the Mobile Home Park. R. Civ. But in what amount? My mortgage was only suppose to last for 30 years. ..There is so much fraud involved and I keep finding more everyday..Just waiting to figure out what road Im going to take as far as legal action. The Court, however, went on to note that " [w]hile these ratios are not binding, they are instructive. On August 31, 2015, Green Tree Servicing became ditech, a Walter company. Powers. Additionally, the company supposedly charged customers $12 for its pay-by-phone service and pressured borrowers into using it to ensure their payments were received on time. How do I file a claim against Ditech? Shaking my head. I cant get in touch with anyone to get it off. I had one gentleman that called daily multiple times threatening me over and over. 1994)). Directions. Podner's wholesale copying of customer loan files, which coincided with his resignation from Conseco and hiring by North American, creates at least the threat of misappropriation. 2006 - 2023. 2003). 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. Now they are trying to steal my Personal Property from me. Any correspondence will be noticed. Home loan options include fixed rate, adjustable rate and FHA loans. As such, the district court abuses its discretion in permitting a punitive damage award to stand when the award is so disproportionate to the factors relevant to the size of the award that it reveals "improper motives or a clear absence of the honest exercise of judgment." We reverse and remand with directions to the trial court to enter judgment in the amount specified in the settlement agreement, plus postjudgment interest and costs. Said she could only change excess payments for past 3 months. At the preliminary hearing, Bristol testified that he and the other Conseco employees were put on the payroll of North American on June 30, 2000, for "benefits purposes," and that they did not work for both companies at the same time. Mortgage Brokers vs. Banks: Which Is Better? They ruined my credit report for NO reason. Please put my name on a Class Action Suit. 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. [6][8] The loans were also low-documentation mortgages, or stated income loans, and many borrowers falsified their incomes. The lead sheets are a product of a specialized-and apparently quite effective-computer program that was uniquely Conseco's. Two of the loan originators that Lasek recruited to leave Conseco with him eventually returned to work at Conseco-after a change of heart-and testified about Lasek's actions. They first claimed they were not aware of this on time payment incentive from my original banks docs. You might be able to get more info by calling 1-877-FTC-HELP (1-877-382-4357). Podner did not specify the exact number of loan applications copied. 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. The case involves employees leaving an agriculture supply business to join a competitor. I just closed on my deal with Greentree on the second. Afterwards, an audit was done and they removed some on-time payments to take some incentives away from me. Furthermore, these customer loan files eventually made their way to his office at North American. The company's unusually aggressive collection methods and other business practices are in question. Ditech Financial LLC (rebranded from ditech Mortgage and "Green Tree Servicing" in 2015) was a provider of home loan, loan servicing and refinance products to consumers and institutional partners in the U.S.[1]. These products are . All I ever get is the run around. Greentree Financial 7360 S Kyrene Road Tempe, Arizona U.S.A. After such consideration, we find that the $18 million punitive award does not comport with the requirements of the Due Process Clause. Paid almost every payment with a convenience fee. Although it is undisputed that the lead sheets themselves are not generally accessible to the public, North American asserts that much of the information contained within these lead sheets can either be purchased from various credit agencies or found in mortgage records, all of which are accessible to the public. 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. I was diagnosed with breast cancer and just asked for a little guidance from them. I lost my home to green tree mortgage in 2010. I have been making excess (extra on principal) payments for quite a while. By the end of August, Green Tree will be no more. CitiMortgage, Inc. or Citicorp Home Mortgage Services, Inc. are successors in interest to CitiFinancial Servicing and the below named companies through acquisitions, mergers or name changes and no longer has any security interest as lienholder. 1984). To the extreme. Sign up for our free summaries and get the latest delivered directly to you. at 416-417, 123 S. Ct. 1513 (2003). (2) how will we as victims be contacted about a $$ settlement? Every time I made my payments just about all of my payment was going in to the interest fees, instead of paying down on the principal. If you type I. Greentree complaints it should come up if the site has not been taken down. Indeed, Conseco had closed thirty of its 150 branch offices within the previous year. In order to avoid this constitutional infirmity, the punitive damages award must be remitted to $7 million, an amount that is sufficiently punitive, but that does not violate notions of fundamental fairness. [3] In April 1995, Reddam began originating, selling, and servicing mortgage loans tied to the prime interest rate. My lender told me that Green Tree Servicing still has 2nd lein on my property! Now, i cant get in touch with anyone to get my balance? In 2006, ditech.com general manager Michael McCarthy resigned and was replaced by Richard D. Terrence J. O'Toole of St. Louis appeared on the brief. The corporation originates, pools, sells, and services manufactured home loans using a vehicle known in the industry as conditional sales contracts. Its showing on my credit report that Im late , 60 days. 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. The current range of Greentree modules covers the key areas of Financials, Distribution and Job Management. For those who still have their homes, Green Tree must convert temporary loan mods into permanent ones. Green Tree moved to compel arbitration. At the time of trial, Dime Savings had been acquired by Washington Mutual, a company with a net worth of several times this amount, North American argues that the punitive damages were an improper remedy for its discovery abuses. Chief Judge Loken did not participate in the consideration or decision of this case, Formerly known as Green Tree Financial Servicing Corporation, Conseco also employs other strategies to generate new business including internet advertising, telemarketing campaigns, "cross-marketing" of current customers, direct mail, television, radio, and yellow page advertising, and referrals from various business associates, One of North American's own witnesses admitted that North American had improperly taken Conseco's documents and repeatedly lied about it during the discovery process, His estimate was based on an average loan size in the Midwest of $85,000, The unfair competition instruction to the jury was expressly predicated on trade secret misuse, while the tortious interference claim concerned the issue of wrongful and unjustified interference with Conseco's reasonable expectation of economic advantage or benefit. They were NASTY. Pony Comp., Inc. v. Equus Comp. [7], In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap. You already receive all suggested Justia Opinion Summary Newsletters. Can anyone please help me with whom I can contact?? CEO Approval. In fact, Green Tree's parent company, Walter Investment Management Corp. (WAC), is merging Green Tree with another of Walter Investment's well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter . 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. Such challenges must be sufficiently specific so as to apprise the district court of the grounds relied on in support of the motion. How do I get answers on how to receive money back from my home. This would begin CNN's ongoing live coverage of the September 11 attacks.[22]. R. Civ. I would end up hanging up and they repeatedly called me plus after 9pm trying to harass me more. This instant case involves thousands of customers-located throughout the country-who were identified through a complex computer system. My HAMP loan was sold to Greentree which is now Ditech. In 2010, my morgage was sold from BofA to Greentree Servicing LLC. Rule 50(a) requires that challenges to the sufficiency of the evidence must be raised initially at the close of the evidence. That statute authorizes a fine of $5,000. [16] Refinancing options include fixed rate, adjustable rate and FHA loans, as well as special financing programs such as HARP with expanded loan-to-value limits for qualified applicants. They have doubled my monthly mortgage beyond my ability to pay even if I way not a disable vet. They sent me wrong documents, pretend they dont have them and are also scamming borrowers. The FDIC has assembled useful information . Green Tree Financial Corporation is the only company in the United States to specialize in manufactured home loans. CFN Investment Holdings will pay $700 million. Greg and Kathleen Haley 12050 333rd Avenue Twin Lakes, WI 5381. 1995) (quoting Cortez v. Life Ins. Bristol also returned a number of documents at his deposition, in accordance with the district court's TRO. More. Therefore, Conseco established a second misappropriation claim in regard to those specific loan files copied by Podner just prior to his resignation from Conseco. A few years ago I received a letter stating that money I paid them was owed back to me and I never received it and I WANT MY MONEY BACK. However, North American neither returned the stolen information nor discouraged its employees' use of Conseco's loan files and lead sheets. God bless all of you also dealing with cancer etc. The Truth About Mortgage. Thanks in advance. They harassed me so much while my husband was undergoing chemotherapy with Stage 4 Colon Cancer. We got calls..sometimes two or three a day. Prior to that, they would send papers saying I was approved for a loan mod, then theyd send papers saying I was denied and had X amount of days to get out of the house or I would come home to find my house locked up by the sheriff and I would never gain access, then they would try to short sale it.
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