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Subprime crisis lawsuits hit unprecedented levels |
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America’s subprime mortgage crisis has reached an unprecedented level according to a report released this week.
Navigant Consulting reveal in a report that more federal lawsuits have been filed as a result of subprime mortgages than were filed during the savings and loans (S&L) crisis of the 1980s and 90s.
S&L lawsuits in the early 1990s totalled 559.
For the 18-months ending 30th June 2008, federal courts filed 607 subprime-related cases. Over half of these were filed during the first six months of 2008.
In the second quarter of 2008, more than three new cases were filed for every one case dismissed or settled.
Certain types of litigation began to slow down in the second quarter, such as new borrower lawsuits related to subprime mortgages seeking class-action status...
Insurance Daily
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As the American Farmers and Ranchers Insurance Company expands into 24 western states, President and CEO Ray L. Wulf, AFR Executives and Members of the AFR Board of Directors met Idaho Governor Butch Otter and Idaho Department of Insurance Director Bill Deal to express their appreciation during the week of August 18th...
