$100 Million Class Action Settlement Against Countrywide Home Loans

On September 19, 2013, District Court Judge Jeremy Fogel ordered final approval of a class action settlement worth more than $100 million inRalston v. Mortgage Investors Group and Countrywide Home Loans.  The class consists of California homeowners who purchased certain Option ARM Loans.  Andrus Anderson partner, Jennie Lee Anderson, is co-lead class counsel in the case, which was filed in the Northern District of California.  Plaintiff alleged that defendants violated California’s Unfair Competition Law (“UCL”) by failing to disclose certain information in the sale of Option ARM Loans.  Checks will be mailed to class members by December 15, 2013.  For more additional information, please contact us or visit the Option ARM Loan Settlement website.