In response, Conseco sent a copy of Mambretti's letter to North American with a request that North American "cease and desist" from taking and using information contained in Conseco's loan files. I was making them but they were not posting my payments or giving me credit and ruined my credit, claiming I was late. What Credit Score Do You Need to Get a Mortgage? Co. of N. Three years ago THE COURT RULED IN MY FAVOR against Green tree foreclosure with a FINAL JUDGEMENT WITH MERIT. (651) 224-5017. On April 11, 2006, Greentree Financial Group, Inc. (Greentree), sued Execute Sports, Inc. (ESI), for breach of contract. We have looked carefully at Greentree Financial Advisors and have found numerous inconsistencies and problems that send the message, "Stay away!" There is a world of difference between expert reviews created by our team with years' experience investigating investment frauds and reviews by so-called customers you may find on some sites. .help? We agree that both the lead sheets and the information contained in these customer files constitute trade secrets under the act. Ins. This went on for well over a year, all while theyd be calling and harassing me, names and bullying me to get out of my home. The Truth About Mortgage. The Catholic Church was going to try to help me pay for part of my Mobile Home Space Rent. Walsh, 332 F.3d at 1159; LeSueur Creamery, Inc. v. Haskon, Inc., 660 F.2d 342, 346 n. 7 (8th Cir. In order to recover damages for unfair competition, Conseco was required to prove 1) the existence of a trade secret, 2) the communication of the trade secret to another, while that former employee was in a position of trust and confidence with Conseco, and 3) the use of the trade secret that damaged Conseco. Servicing Corp. v. North American Mortgage Co., 24 Fed.Appx. We find sufficient evidence of "malice or outrageousness" as defined by Missouri law to permit an award of punitive damages in this case. They were scamming the homeowner and the workers. 366 were here. The trial court initially denied the motion, finding the arbitration agreement unenforceable, but Green Tree pursued an interlocutory appeal and the State Court of Appeals reversed. [7], In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap. On appeal, the district court's determination of punitive damages is reviewed under an abuse of discretion standard. He earned a salary of $150,000 in 1999. Was or used there a class action lawsuit because Id certainly be onboard. The court, relying on Greentree Financial Group, Inc. v. Execute Sports, Inc., 163 Cal. I am pretty sure this will never get taken care of after reading all the comments. Ditech. 21 Things That Can Raise Your Mortgage Rate. I faxed all information to them, that was available to me.. Needless to say it has been a fiasco.. Now the are threatening default on loan.. Its ridiculous to try and deal with this company.. Told different amounts even one rep stated it would be forgiven..I have no idea of what else to do..this is just another proof of the fleecing of America, I want to fill out a class action settlement form where do I get one for greentree. CFPB Director Richard Cordray said in a release that the company failed consumers who were struggling by prioritizing collecting payments over helping homeowners.. Although Podner claims he made these copies in order to help a fellow employee make the transition to loan originator, Conseco provided evidence that would allow a reasonable finder of fact to determine that a threat of misappropriation existed with regard to these specific files. My name is Margaret Heath my home was stolen Jan 2012 by Greentree. Indeed, the conduct involved repeated actions in multiple offices.13 North American's actions also involved trickery and deceit, and an utter disregard for Conseco and-even more heinously-the privacy of its customers. Since inception in 2013, New Residential has a proven track record of performance, growing and protecting the value of its assets while generating attractive risk-adjusted returns and delivering almost $3 billion in dividends to shareholders. Be safe Family n friends. Williams v. ConAgra Poultry Company, (slip opinion August 6, 2004). Conseco generates potential customer leads through a computerized database, which Conseco developed, that analyzes financial information from over forty million individuals.2 Conseco's computer program identifies individuals who might "benefit" from its debt-consolidation services and compiles a list of the potential customers, which is sent to Conseco's branch offices throughout the country in the form of "customer lead sheets. I pissed when I want as no man woman or child will ever decide when I piss but that is inhumane. The grounds for the renewed motion under Rule 50(b) are limited to those asserted in the earlier Rule 50(a) motion. Rapid Growth: Mid-1980s Through the Early 1990s Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. Further, we are satisfied with the sufficiency of the evidence supporting the jury's award of punitive damages. Conseco Fin. (Jul-23-03) [PIONEER PRESS] Accordingly, North American concludes that there was insufficient evidence, absent proof of net profit, for any submissible cause of action to survive and requests that we overturn the jury verdict as a matter of law and enter judgment in North American's favor. I quit answering the phone calls but saved all their numbers for later proof of their harassment. Most persuasively, North American contends that the "exacting" nature and quality of proof needed for recovery of lost profits in Missouri required Conseco to prove net profits by introducing evidence "of the cost and expense of operating the business during these periods." Had to go chapter 13 to stop all the harassing calls , one guy told me to pay up or get my out of my Mobile home. They owe me 27,000.00 estimated. As such, the district court abuses its discretion in permitting a punitive damage award to stand when the award is so disproportionate to the factors relevant to the size of the award that it reveals "improper motives or a clear absence of the honest exercise of judgment." We, however, affirmed the decision of the district court to deny the injunction. Does anyone know who to call for me to claim my refund? A number of these now former employees testified (at the preliminary injunction hearing) that because Conseco was leaving the subprime lending market, they worried about their future, especially considering the fact that they worked on commission. Are there a class action lawsuit against ditech with all the forgery and false information, Im in South Carolina. In order to avoid this constitutional infirmity, the punitive damages award must be remitted to $7 million, an amount that is sufficiently punitive, but that does not violate notions of fundamental fairness. A comprehensive . (0) Super Helpful (0) They're not great but not a Ripoff (0) Total Ripoff (0) No advance notice is given to the public when a financial institution is closed. It was just a cycle. State Farm, 538 U.S. at 425, 123 S. Ct. 1513. She did this several times, threatening me, stressing me out they would foreclose and I would lose my house due to their error and unwillingness to correct it. We got the $ to catch up which wasnt much like one payment and they refused to take the money. [6][8] The loans were also low-documentation mortgages, or stated income loans, and many borrowers falsified their incomes. 1984). Therefore, Conseco established a proper misappropriation claim with regards to these fourteen loan files. North American sought this information in an attempt to pursue Conseco's loan customers and business leads. In the year 2000 his salary increased to $400,000. Find 1099 listings related to Greentree Financial in San Antonio on YP.com. Can someone please please please HELP me? Galdieri-Ambrosini v. Nat'l Realty & Dev. Conseco also asked that North American return all of the information that it had acquired from Conseco's former employees. They demonstrate what should be obvious: Single-digit multipliers are more likely to comport with due process, while still achieving the State's goals of deterrence and retribution, than awards with ratios of 500 to 1 [as in Gore], or in this case, of 145 to 1." Financed through Greentree in 1995 then went to ditech then shellpoint aka new rez llc even more shady. Must Convert Temporary Loan Mods into Permanent Ones. of Mo., Inc., 162 F.3d 991, 998 (8th Cir. Tried to get relief through an attorney has messed over me. [9][10], In February 2010, GMAC relocated ditech.com offices from Costa Mesa to Fort Washington, PA.[11] In May 2010, GMAC changed its name to Ally Financial. Shortly after this employee exodus began, Conseco received a letter from one of its St. Louis branch customers, Michael Mambretti, complaining that his confidential loan information had been taken by a Conseco loan originator, from Conseco to North American. Because insurance paid off the loans in full on the 91st day..They stalled, blaming one another and Nationstar also blamed Bank of New York for delay..Bank of new york put in writing to me that the were only trustee and had no say so in Settlements, Deed in lieus or modifications. I made every payment on time and they refused to pay me the thousand dollars I was entitled to each time I requested payment. There needs to be a class action lawsuit against these arm twisting loan sharks! I did file with CFPB and the FTC and I got a check for $10.00 after I lost my house I am still setting in my driveway living in my RV. So disappointing! Greentree Financial Group, Inc. 19720 Jetton Road, 3rd Floor Penthouse Cornelius, NC 28031 (704) 892-8733 Office (704) 892-6487 Fax mikebongiovanni@gtfinancial.com. (651) 224-5017. Please put my name on a Class Action Suit. Once we would find someone to help us modify, they would move them to another account. We agree. I too was with BOA and while my home was in remod with BOA they dropped me & sold my loan. Recent filings for GREEN TREE FINANCIAL SERVICES CORPORATION 22 Nov 2010 While 800-643-0202 is Green Tree Servicing's best toll-free number, there are 3 total ways to get in touch with them. And, consistent with Rule 50, North American restated-in similar but not precise language-its previously articulated proximate cause damage theory, " [Conseco] failed to prove a causal connection between any conduct properly actionable and any loss to [Conseco]." Green Tree has been accused of some pretty bad stuff, Including warning delinquent homeowners of imprisonment, And doing little to help borrowers keep their homes, Along with harassing phone calls and unresponsive customer service, Any temporary loan modifications must be made permanent, And all active foreclosures must be halted, While the company evaluates loss mitigation alternatives. I understand what the FTC and CFPB are talking about with this them. I asked for a payoff amount and they refused to give it. Detroit Home Buyers Offered Zero Down Mortgages Up to 150% LTV, Mortgage Lenders In Europe Now Owe Their Borrowers Interest, How to Get a Mortgage: From Start to Finish. North American next argues that, even if the loan files and lead sheets are considered trade secrets, Conseco still "did not make a submissible case of either the fact of damages or the amount of damages." While just being released from the hospital with diagnosis of stage 3 ovarian cancer, suffering from chemotherapy and not working not able to pay bills. [2] DT Holdings, Ditech's parent company, is a subsidiary of Walter Investment Management. Nine years this has been going on for me ..suffering years even though I won three years ago still waiting for my damages. The lies, over and over. T213. Truman Lewis Reporter. Get free summaries of new Eighth Circuit U.S. Court of Appeals opinions delivered to your inbox! If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings. If a borrower is in the process of foreclosure, it must be halted while the company reaches out to borrowers and evaluates other potential loss mitigation options. Initially, we must determine whether Conseco's lead sheets and the information contained in its customer files constitute trade secrets under the Missouri Uniform Trade Secrets Act. The FDIC has assembled useful information . 2004) (quoting Sanchez v. Puerto Rico Oil Co., 37 F.3d 712, 716 (1st Cir. The corporation originates, pools, sells, and services manufactured home loans using a vehicle known in the industry as conditional sales contracts. My loan started out at 48,000 on my double wide, paid on it for about 16 years and now owe 67,000 on it. The opposite of how it should work. I am a victim of Green Tree and Ditech can anyone do anything about it. ORDER: Sever the trial to foreclosure non jury trial and counter claim, jury trial. In 2006, ditech.com general manager Michael McCarthy resigned and was replaced by Richard D. Financial Services Company size 1,001-5,000 employees Headquarters Saint Paul, MN Type Public Company Founded 1975 Specialties Specialized Loan Servicer Locations Primary 345 St. Peter Street. Shell point mortgage servicing owns the mortgage now. The endless calls at all times of day and night being that sick, and I am making a long story very short. The district court, however, denied Conseco's remaining request for injunctive relief relating to North American's solicitation of its employees. However, the jury (and the district court) rejected this theory, opting for an alternative explanation-North American's desire to expand into the subprime market, at any cost.14 North American has not shown that the jury's assessment of the facts was unreasonable. Id. My loan is FHA 7% 30 years, fixed rate, with PMI payments. Readying correspondence to: FTC and others along with copies to EACH house member and Senate with original to President of USA. They were awful. I did call Ditech. Allegheny County police said the shooting happened in the parking lot of the Unity. By answering a few simple questions about yourself, and selecting the amount of money you would like to borrow. Green Tree Financial Corporation is the only company in the United States to specialize in manufactured home loans. I have been a Victim of Greentrees theft since January 2014 when I made a payment on my mortgage but it wasnt applied to my loan. My payments went back up to what they were before the nodification. On appeal, North American questions not whether Conseco proved sufficient connection of its damages to North American's alleged wrongful conduct but whether Conseco proved it had incurred damages at all. They were NASTY. Claim this business. Mark S. Wasinger and John B. Morthland of Hannibal, MO appeared on the brief. See Fed. They tried to triple my mortgage payment when I paid what my mortgage payment actually was and had been for long time. Green Tree was so horrible they threatened me while in the hospital. On appeal, North American offers an eloquent and persuasive argument regarding the stringent requirements relating to the calculation of lost profits, particularly in relation to "net" profits. North American senior manager, Ken Keeler, provided rebuttal expert testimony, stating that the average-net profit on a loan was $2,100.4 Carrie Hiatt, a North American witness, further testified that approximately ten percent of certain Conseco leads resulted in funded loans. Greentree has done everything than can think of to get my home. Id. Pulse they put on my credit report that I was evicted. Further, because the common law and the statutory elements of the claim remain the same, any resulting error would likely be harmless. Rockport Pharm., Inc. v. Digital Simplistics, Inc., 53 F.3d 195, 197-98 (8th Cir. 2d 809 (1996). Thank you, Kim (ADD ME TO YOUR LIST). Stat. This handbook states that "non-public information about customers, dealers, and others is strictly confidential.". [3], In 1999, DiTech was acquired by GMAC (now Ally Financial), then owned by General Motors. I received my first notice from Ditech that my mortgage was in arrears..after speaking with several CSD representatives.. Last month, HousingWire reported that Green Tree's days were numbered, after Green Tree's parent company, Walter Investment Management Corp. ( WAC ), announced quietly that it planned to merge. Greentree Financial Profile and History . Well GreenTree Financial went bankrupt and their accounts were taken over by Conseco Financial. The parties then chose an arbitrator, indeed . After 2 years of accepting the calls. Mortgage service providers take advantage of borrowers and no one cares much to help us and monitor the bad lenders. Greentree Financial Advisors [ Impersonators of Genuine Firms ] 2408 Richmond Road Staten Island, NY 10306 Fax: 718-732-2047 In 1995, John Paul Reddam founded DiTech Funding Corporation (DiTech) in Costa Mesa, California. Then again on October 2016 another payment made but not applied. We were victims of Greentree. Who do I contact to file lawsuit and get justice and prove damages? In 2019 had a devastating hail storm that ruined my house 40,000 in damages and never could get ditech to repair the damage so I had my bankruptcy revised and took ditech off. at 416-417, 123 S. Ct. 1513 (2003). 1996). They tacked on so many years to our loan, that we will never be able to pay it off. The court rejected this argument noting that this was a geographic area where everyone knows everyone else, "and you simply need to `see and ask'" to identify customers. The record establishes that Scott Bristol told North American's senior management that he had not resigned from Conseco when he started working at North American. 417.453(4) (1995). Rule 50(a) requires that challenges to the sufficiency of the evidence must be raised initially at the close of the evidence. Anybody know of a good company to refinance with? The caller informed Mambretti that all of his personal financial information-which he had entrusted to Conseco-had moved with the loan originator to North American's St. Louis office. [3], Powers introduced "People Are Smart," an advertising campaign that leveraged GMAC's reputation as a responsible lender and stressed the importance of making prudent decisions based on expert advice provided by ditech.com loan consultants. For the foregoing reasons, we affirm the opinion of the district court in part and reverse in part. Related documents Order Complaint FTC Press Release Press release Accordingly, we find no error in the submission, This figure is based on the net worth of North American Mortgage, a division of Dime Savings Bank of New York. It did not, and by failing to do so, North American forfeited its argument to the extent that it was not forfeited by the failure to assert those grounds in their Rule 50(a) motion, We agree with the district court that the common-law claim of unfair competition has likely been replaced by the statutory offense described in the Missouri Trade Secrets Act. Since Ditech filed bankruptcy, I wonder if my money even exists any longer. Greentree is Ditech so be careful! However, the Court also explained that when compensatory damages are substantial, "perhaps [a punitive award] only equal to compensatory damages" may be appropriate. Then they said it was for their insurance which we won in court that we carried our own insurance, then they auctioned our home off a paid off home we list our home and no one will get back with me on what to do it has been a little over 4 years now. Here the damage award is further supported by the remaining tortious interference claim. As stated so eloquently-and simply-by Judge Posner of our sister circuit, "punitive damages should be proportional to the wrongfulness of the defendant's actions." In 2010 I applied for a Making Home Affordable Plan and made every payment on time and earned the incentives. Requested payoff through government agencies and received payoff from ShellPoint. All rights reserved. Please ..I want to know how we can be a part of this lawsuit. 2003). North American argues that the award is based solely on its net worth and is so excessive that it violates due process. Vigoro contended that the names of 200 former customers constituted a trade secret. I exceed the payment due by almost $150, figuring that 150 will come off principal directly. This corporate entity was filed approximately forty-six years ago on Monday, June 13, 1977 as recorded in documents filed with Texas Secretary of State. The ultimate product of the lead sheets-the loan file-contained financial statements, loan applications, appraisals, income calculation worksheets, W2 forms, payroll information of Conseco customers, tax returns, and bank statements of Conseco customers. (2) how will we as victims be contacted about a $$ settlement? You already receive all suggested Justia Opinion Summary Newsletters. Who do I need to contact to get additional info about this claim? A TOTAL MISTAKE. Your email address will not be published. Nice article. Two of the loan originators that Lasek recruited to leave Conseco with him eventually returned to work at Conseco-after a change of heart-and testified about Lasek's actions. 1994)). I was used and abused by greentree ditech until January 30, 2018 when I refinanced and went with another provider all together! They were not interested in helping us modify our loan even though we qualified. Its unclear how much compensation each borrower will receive, but victims who receive money from this enforcement action can also pursue their own individual claims against the company. Calls throughout the day and weekend threatening jail time and foreclosure.