![]() ![]() The 47-page complaint alleges that the other plaintiffs were similarly disfellowshipped when Caliber - a Texas-based company - did not hold a Rhode Island license under state law at the time.Īccording to Dion, it’s still the law (RIGL 19-14.11-1), but Dion says case law shows penalties under the law have since changed from criminal to civil penalties. The lawsuit details how Caliber became and remained the servicer of plaintiffs’ mortgages prior to 2015 – without first obtaining a servicing license as required by state law effective July 1, 2015.ĭion noted in the lawsuit that the requirement in statute, Rhode Island General Law 19-14-26, “provides criminal penalties for violations.” The US bank is also named as a defendant in the lawsuit.Īccording to national data, lenders repossessed 3,938 US homes through completed foreclosures in August 2022, up 28% from the previous month and up 59% from 2021. GET THE LATEST NEWS HERE – SIGN UP FOR THE FREE GLOCAL DAILY EBLAST District Court on behalf of 11 plaintiffs who owned homes across the state, alleges that defendant Caliber Home Loans “failed to obtain a third-party servicing license” and is not legally permitted to do so was to “act on behalf of the Defendant’s US Bank to determine, disclose and invoke the statutory authority to sell” on the Plaintiff’s properties.Īttorney Todd Dion, who filed the lawsuit, alleges that Caliber “did not have the authority under applicable law and the mortgage agreements to execute all affidavits and writs of foreclosure on behalf of US Bank.” A lawsuit filed in federal court alleges that a third-party mortgage servicer acted illegally in foreclosure on several properties in Rhode Island. ![]()
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