California Mortgage Escrow Accounts Investigation
Mortgage Escrow Class Action Lawsuit
Our consumer finance lawyers are investigating California mortgage lenders for their administration of mortgage escrow accounts, which are accounts that lenders sometimes set up to cover recurring charges such as taxes.
State law requires mortgage lenders to pay 2 percent interest to borrowers on funds held in escrow accounts for residential mortgages. Due to the current low-interest-rate environment, many lenders are finding it hard to meet guaranteed rates for their customers. In response, some lenders have avoided paying interest on escrow accounts entirely. This practice is unfair to borrowers, effectively increases their mortgage payments and costs, and violates state law.
If you are a California resident with a mortgage escrow account and you suspect that your lender has not been paying interest to the account, you may have a claim for compensation. Please contact Girard Sharp LLP for a free and confidential case consultation by calling toll-free at (415) 981-4800 or by filling out the form below:
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Do You Own a Mortgage Escrow Account?
We are currently investigating the practices of the following companies:
- Quicken Loans
- Pinnacle Capital Mortgage
- Stearns Lending
- Broker Solutions
- American Pacific Mortgage
- Impac Mortgage
- United Shore Financial Services
- Sierra Pacific Mortgage Co.
- Nationstar Mortgage
- U.S. Bank
- Freedom Mortgage
- Caliber Home Loans
- Flagstar Bank
- United Wholesale Mortgage
- Union Bank
- Fremont Bank
- Guaranteed Rate
- New American Funding
- J.G. Wentworth
If you are a California resident with a mortgage escrow account controlled by any of these lenders and you suspect that you may not be getting interest, you may have a claim for relief. Seek compensation and speak with a Girard Sharp attorney by calling (415) 981-4800 or filling out the form above.
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For a free consultation about your potential claims, contact one of our consumer finance attorneys by filling out the form above or calling toll-free at (415) 981-4800.