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Financial Services

Baker v. America’s Mortgage Servicing, Inc. and Resolution Trust Corp., 58 F.3d 321 (7th Cir. 1995).For many years the Firm has represented mortgage servicers, as well as the RTC and Fannie Mae, in a series of putative class actions challenging numerous mortgage servicing practices in various federal and state courts around the country. The Firm aggressively attacted the substantive claims of the purported class representatives and none of the Firm’s clients paid damages or settlements in any of these actions. (In one case, the class representative actually was ordered to reimburse one of our clients for its attorney’s fees.) In Baker, the plaintiff challenged the interpretation of contract language used by lenders nationwide involving the computation of late charges. The Firm obtained summary judgment in the District Court, and the Court of Appeals for the Seventh Circuit affirmed the judgment on appeal.