However, because of the significant variance between the large actual damage award and the resulting punitive award, we must consider the nature of North American's conduct and the harm suffered solely by Conseco. Another of North American's witnesses, Perry Schatz, testified only five percent of Conseco's leads result in a funded loan. [3][7], Ditech pioneered 125 percent loans that allowed mortgage loan applicants to borrow more than properties were worth. What happened Greentree Mortgage? We do, however, make this procedural observation-North American failed to raise the issue of submissibility of the tortious interference claim in its directed verdict motion either at the close of Conseco's case or at the close of all evidence. Just paid off a home and was going to sell and it has a lien on it. We affirm in part and reverse in part. And how does this company get away with this by changing their name constantly. . 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. The Greentree Way | Greentree Mortgage Company, L.P. Learn about the FDIC's mission, leadership, history, career opportunities, and more. After several months I was told I wasnt making the right payment and I owed them almost $5000.00 And unless I paid this wthin 2 weeks They were forcloseing on my home, So I borrowred the money and paid them I dont have any idea how I am going to pay this back. [5][3] DiTech became a household name as a result of the commercials. The Supreme Court described the first Gore guidepost-the degree of reprehensibility of the defendant's conduct-as the most important indicium of the reasonableness of a punitive damages award. Greentree did nothing to help me resolve the situation. They owe me 27,000.00 estimated. Shaking my head. In February 2019, Ditech filed for bankruptcy for the second time in as many years. We remand this case to the district court for entry of an amended judgment consistent with this opinion. 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. The jury's $3.5 million compensatory award was issued by general verdict, after the jury returned verdicts for Conseco on two claims, unfair competition and tortious interference. Greentree Financial Group, Inc. 19720 Jetton Road, 3rd Floor Penthouse Cornelius, NC 28031 (704) 892-8733 Office (704) 892-6487 Fax mikebongiovanni@gtfinancial.com. Ann. How can this be??? We tried to short sale but after 50 days on the market Greentree offered to do a Deed in lieu based on the second mortgage releasing the lien for 10% settlement. In our review of the punitive damages award, the Supreme Court instructs us to consider three guideposts: (1) the degree of reprehensibility of the defendant's misconduct; (2) the disparity between the actual or potential harm suffered by the plaintiff and the punitive damages award; and (3) the difference between the punitive damages awarded by the jury and the civil penalties authorized or imposed in comparable cases.11 Gore, 517 U.S. at 575, 116 S. Ct. 1589 (1996). I was a victim of this as well from Green Tree, but I never received anything regarding this class action lawsuit. I was going through a really hard time, I fell on hard times, I called green tree to try to talk to them because I was not able to make my payments. Conseco filed a three-count complaint alleging 1) misappropriation of trade secrets, 2) unfair competition, and 3) tortious interference with business relations. Green Tree Financial Corporation filed as a Statement & Designation By Foreign Corporation in the State of California and is no longer active. Green Tree moved to compel arbitration. Florida Office R. Chris Cottone Greentree Financial Group, Inc. 1000 S. Pine Island Road, Suite 210 Plantation, FL 33324 Kimzey v. Wal-Mart Stores, Inc., 107 F.3d 568, 576 (8th Cir. By the end of August, Green Tree will be no more. [6] GMAC Mortgage renamed DiTech ditech.com.[3] Reddam left the company in 2000. We paid one and half year extra. It then entered an injunction against North American, Podner, and Kattleman from soliciting customers who had documents taken from their loan files. Id. 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. Co. of N. 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. It determined that Conseco's lead sheets and documents in its loan files are trade secrets, but also determined that Conseco's customer lists and certain financial information are not trade secrets. Is there a phone number to call? It was like $ 46,000 to start off with by the time I got evicted, I still owed $ 33,000 on my Mobile Home after paying on it for like 20 years. It has been hard to get a loan for anything else. The grounds for the renewed motion under Rule 50(b) are limited to those asserted in the earlier Rule 50(a) motion. Bank of America really cost me a lot of money for their role in this sale to an unscrupulous company. By the end of August, Green Tree will be no more. Join me to get resolution. On appeal, the district court's determination of punitive damages is reviewed under an abuse of discretion standard. Three years ago THE COURT RULED IN MY FAVOR against Green tree foreclosure with a FINAL JUDGEMENT WITH MERIT. Readying correspondence to: FTC and others along with copies to EACH house member and Senate with original to President of USA. But the company is not closing. 1997). 2004) (quoting Sanchez v. Puerto Rico Oil Co., 37 F.3d 712, 716 (1st Cir. They been foreclosing on and now says owe over 49 thousand dollars due to missed payments then stopped taking my payments and sent my money orders stamped on back to me but call daily demanding full payment but told me only contact their lawyer that we got charged with! I was with Bank America and they turn me over to ripped off GreenTree Mortgage, and they GreenTree, up my loan to what they want, I called them and told me that they couldnt reach me, They up my APR and Loan Mortgage and said the could not get in touch with me. Website. But because of there high interest fees. As noted by the district court, North American management knew that employees were working and being paid by both companies at the same time.12 Rather than undertake any investigation, corrective, or disciplinary action, it elected to use the dual employment as a "model" in other offices. Find locations. Most notably, Conseco's management decided to discontinue loan services in the subprime lending market. 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. Was two months behind. Sounds like there needs to be a class action lawsuit. I asked for a payoff amount and they refused to give it. I pissed when I want as no man woman or child will ever decide when I piss but that is inhumane. I have no escrow. [1], In March 2015, Ditech, along with Walter Investment affiliate Green Tree Servicing, announced the two would undergo a co-branding effort to become "Ditech Financial, A Walter Company," bringing Walter's origination and servicing entities together under one, recognizable brand name. The district court upheld each of the awards, noting that North American's conduct was "widespread and systematic" and "reprehensible," and that the award was "not an injustice, but rather appropriate in light of the evidence." Greentree-financial.com is an online marketplace where a lender can give you a decision instantly for the funds you need. Because the evidence is susceptible to a reasonable inference supporting the verdict, we affirm the district court's decision to submit this claim to the jury and its subsequent denial of judgment as a matter of law. After a very long time, I did get approved for the loan mod, and still recvd papers saying I was kicked off this too went on for a LONG TIME! North American sought this information in an attempt to pursue Conseco's loan customers and business leads. They were awful. Mark S. Wasinger and John B. Morthland of Hannibal, MO appeared on the brief. Shellpoint whatever the heck its called now has been a complete nightmare. Now they have lien on my personal property that had nothing to do with this loan. I could go on and on with the difficulty we had while being a customer with this agency, it would take more space than Im allowed. Counsel who presented argument on behalf of the appellee was David G. Wasinger of St. Louis, MO. My lender told me that Green Tree Servicing still has 2nd lein on my property! To this day I can remember it like it was yesterday. 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. As such, it captured over 25 percent of that business by 1993. The endless calls at all times of day and night being that sick, and I am making a long story very short. [7], In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap. And acknowledge the receipt of short sale requests and/or missing documents within five days. Mo. Id. Pursuant to the requirements of the Order, The estate is no longer able to further process the return of any unclaimed borrower funds. North American also claims that these individual indiscretions do not amount to "corporate" wrongdoing by North American. Mortgages are often transferred during the life of a loan, so consumers may find themselves locked in a relationship . 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. This provision of the Act provides a safety valve for a party to an arbitration agreement who does not consent to the other party's choice of arbitrator. Nine years this has been going on for me ..suffering years even though I won three years ago still waiting for my damages. What happened Greentree Mortgage? Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) ordered Green Tree Servicing to pay $48 million in borrower restitution along with a $15 million fine to the CFPBs Civil Penalty Fund. He even called my elderly parents and harassed them. In short, we see sufficient evidence that North American misused Conseco's trade secrets to justify the submission of the unfair competition claim and the tortious interference claim to the jury. Related documents Order Complaint FTC Press Release Press release The court, relying on Greentree Financial Group, Inc. v. Execute Sports, Inc., 163 Cal. The district court granted a temporary restraining order ("TRO") prohibiting these named North American employees from taking, using, or disclosing documents from Conseco's loan files, and requiring the return of any information taken from Conseco's files. Get the funds you need without leaving the comfort of your own home from online. Its showing on my credit report that Im late , 60 days. CEO Approval. On June 8, 2022 the Bankruptcy Court entered an Order governing the distribution of any unclaimed borrower funds remaining in the Ditech estate. They keep selling the mortgage to different companies. The corporation originates, pools, sells, and services manufactured home loans using a vehicle known in the industry as conditional sales contracts. I feel like they are trying not pay all or part of my $1000 per year for a total of $5000 for making all of my payments on time. Both motions were denied by the district court, and the case was submitted to the jury on Conseco's claims of unfair competition and tortious interference. Multi Location Business. PITTSBURGH Three people have been arrested in connection to a shooting in Green Tree on Monday evening. individuals with low credit scores. 655 (8th Cir. Zachar v. Lee, 363 F.3d 70, 72 (1st. It is important to note that this is a foreign filing. My mortgage was only suppose to last for 30 years. Further, we are satisfied with the sufficiency of the evidence supporting the jury's award of punitive damages. It was just a cycle. I am pretty sure this will never get taken care of after reading all the comments. 1994), aff'd in relevant part, 82 F.3d 785 (8th Cir. Chief Judge Loken did not participate in the consideration or decision of this case, Formerly known as Green Tree Financial Servicing Corporation, Conseco also employs other strategies to generate new business including internet advertising, telemarketing campaigns, "cross-marketing" of current customers, direct mail, television, radio, and yellow page advertising, and referrals from various business associates, One of North American's own witnesses admitted that North American had improperly taken Conseco's documents and repeatedly lied about it during the discovery process, His estimate was based on an average loan size in the Midwest of $85,000, The unfair competition instruction to the jury was expressly predicated on trade secret misuse, while the tortious interference claim concerned the issue of wrongful and unjustified interference with Conseco's reasonable expectation of economic advantage or benefit. Id. Later, at trial, he admitted they were working for both companies at the same time. Greg and Kathleen Haley 12050 333rd Avenue Twin Lakes, WI 5381. I too was with BOA and while my home was in remod with BOA they dropped me & sold my loan. ALWAYS trouble. 1998). I. I am still trying to get the documents from current mortgage service provider and having hard time. They were scamming the homeowner and the workers. The facts and issues in this case arise from actions taken by North American to acquire information about individuals that is contained in Conseco's confidential files. To insure the confidentiality of these lead sheets, Conseco requires all employees to sign a form that acknowledges their receipt and understanding of the contents of Conseco's Employee Handbook. Who do I contact to get whats owed to me? Greentree is Ditech so be careful! At that time, we only had 17 years left on our 30 year loan. Paid almost every payment with a convenience fee. They settled for $5500 (BOA paid $3k and my Seller paid $2500) and Greentree WAIVED THEIR DEFFICIENCY RIGHTS!!! I just found this article and learned that I may be able to recoup the convenience service fees of $12 I paid multiple times to Green Tree. The rep became short with me. Now they want over $9,000 from me for some reason. In support of this motion, Conseco identified three former employees that it alleged had misappropriated its trade secrets. At Greentree Financial we offer our clients comprehensive financial planning. Sincerely. We paid our home off but greentree said we owed another $17,000. Emmenegger v. Bull Moose Tube Co., 324 F.3d 616, 619 (8th Cir. Financed through Greentree in 1995 then went to ditech then shellpoint aka new rez llc even more shady. I won foreclosure trial by non jury trial final judgement amended final judgement, ORDER: Foreclosure resolved, only issue is money damages and demand for jury trial, ORDER: Granted motion leave to file my counter claim. I am trying to get the deed/title to my home. 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." In response, Conseco contends that North American failed to comply with the requirements of Fed. Ive had four different Judges to rule in my favor. App. Green Tree has been accused of a number of abuses, including not honoring loan modification programs, delaying short sale decisions, and charging customers convenience fees when paying their mortgages. Mathias v. Accor Economy Lodging, Inc., 347 F.3d 672, 676 (7th Cir. 1996). They sent me wrong documents, pretend they dont have them and are also scamming borrowers. Anyone have a number I can call. This site is protected by reCAPTCHA and the Google. Therefore we begin by noting that the district court gave correct and distinct instructions relating the purpose and standard for punitive damages, and turn our focus to the reprehensibility of North American's conduct. Conseco produced evidence that would allow a reasonable finder of fact to conclude that there was at least a threat of misappropriation of the trade secrets contained in these fourteen files. By answering a few simple questions about yourself, and selecting the amount of money you would like to borrow. It specializes in "servicing" (debt-collecting) subprime residential mortgages. The Truth About Mortgage. 332 Minnesota St St Paul MN 55101. Conseco, in its "First Amended Complaint," added two additional counts-participation in breach of fiduciary duty, and a separate count for injunctive relief. Still have all the negative reports and complaints about those company going some years ago. 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. I understand what the FTC and CFPB are talking about with this them. Walsh v. National Computer Systems, Inc., 332 F.3d 1150, 1158 (8th Cir. Its insurance subsidiaries provide life insurance, annuity and supplemental health insurance products to more than four million customers in the United States. Now Ditech Id with them and are ripping me off and other folks, My home is 42yrs old, from 726 a month to 798. I too was a victim of the Green Tree / Ditech scam. Tell how to get I. CNO Financial Group, Inc. (formerly Conseco, Inc. (from Consolidated National Security Corporation)) is a financial services holding company based in Carmel, Indiana. After 2 years of accepting the calls. Hi my name is Megan & Im in a bad way with this company fixing to loose my home of 15 years that is suppose to already be paid off have no way to financially fight them cuz everything has went into trying to keep my home. (0) Super Helpful (0) They're not great but not a Ripoff (0) Total Ripoff (0) 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. The Manager had my car towed away, and I couldnt afford to get it out of impound. The company held sponsorships on Hendrick's part-time #44 car, as well as the #87 car on Busch Series level. [3], In 2005, DiTech was organized as a business unit of Residential Capital, LLC (often referred to as "ResCap"), which controlled mortgage-related subsidiaries owned by General Motors Corporation. If anyone has a working Phone # or email address I can use to address my Title issue, please let me know . In 1995, John Paul Reddam founded DiTech Funding Corporation (DiTech) in Costa Mesa, California. However, North American neither returned the stolen information nor discouraged its employees' use of Conseco's loan files and lead sheets. If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings.