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was a residential mortgage loan originator and servicer.
MINNEAPOLIS, June 23, 2016 /PRNewswire/ -- The Res Cap Liquidating Trust (the "Trust") today announced that, since the close of the last quarter on March 31, 2016, it has entered into settlement agreements related to eleven pending indemnity and breach of contract actions against correspondent lenders of Residential Funding Company LLC ("RFC").
Settling defendants are DB Structured Products, Inc., on behalf of itself and as successor to Mortgage IT, Inc., Gateway Bank F. B., Circle Mortgage Corp., Broadview Mortgage Corp., Fremont Bank, The Mortgage Outlet, Inc., Mortgage Network, Inc., CMG Mortgage, Inc., First Equity Mortgage Bankers, Inc., Americash and Wallick & Volk.
6 motion to destroy certain documents related to loans no longer owned by bankrupt lender Mortgage Lenders Network USA Inc.
As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.
In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank.
The company settled for 0 million and the 3 underwriters, Citigroup, Goldman Sachs Group and UBS AG, settled for 5 million, which was approved by the court in 2015.
The DOJ filed its objection Wednesday, asking the U. Bankruptcy Court for the District of Delaware to deny MLN Trust's Jan.
Schwartz acknowledges signing a mortgage with MLNUSA. A., as successor by merger to BAC Home Loans Servicing, L. to Nationstar Mortgage, LLC in 2013• by Nationstar Mortgage, LLC to the Federal National Mortgage Association (FNMA) in 2016• from FNMA to Plaintiff in January 2017.