Reese LLP represents clients in a wide array of class actions involving Consumer Fraud, Antitrust and Securities law violations.
Reese LLP is currently investigating possible fraud related to the Home Affordable Modification Program (HAMP) that the federal government instituted with a number of banks. Banks were allegedly appraising homes lower than their actual values and then denying loan modifications, forcing homeowners to pay for second appraisals out of their own pockets.
Reese LLP brought a complaint against Mortgage Electronic Registration Systems, Inc. (MERS) seeking damages and injunctive relief for fraudulent and deceptive conduct in dealing with foreclosures of home mortgage loans. MERS helped to cause the current foreclosure crisis by improperly bringing foreclosure actions without standing and obfuscating the home mortgage process.
Reese LLP is currently investigating a possible class action lawsuit against Sovereign Bank for mortgage fraud. Sovereign Bank is allegedly delaying loan modifications in order to derive excess profits due to higher interest rates and fees. Reese LLP is also investigating possible claims of discrimination by Sovereign Bank against pregnant women regarding loan modifications.