CONFIDENTIAL SETTLEMENT – MORTGAGE LENDING VIOLATIONS
We represented California homeowners who obtained loans from First Alliance Mortgage Company (FAMCO) secured by deeds of trust on their homes. We alleged FAMCO misrepresented and concealed its fee for the loan, charged excessive fees and sold unnecessary fire insurance. Plaintiffs claimed breach of fiduciary duty, fraud, conversion and unjust enrichment. We obtained a favorable settlement at the beginning of the trial, the homeowners were compensated and there were no home foreclosures.