On November 7, 2008, Security Pacific Bank, Los Angeles, CA was closed by the California Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. . As the name suggests, Green Tree Servicing was supposed to service homeowners' mortgages by collecting and crediting monthly payments. We will not set aside the jury verdict unless there is a complete absence of probative facts to support the verdict. 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! Terms of Service. Id. Green Tree moved to compel arbitration. I can take your house! yelling at me. I told them they were charging me 3x my payment and I had made them on time. They are saying it may have been lost in the mail but they refuse so far to make it right. You already receive all suggested Justia Opinion Summary Newsletters. If you type I. Greentree complaints it should come up if the site has not been taken down. 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. Pulse they put on my credit report that I was evicted. We had a home equity line with them and ended up borrowing from my parents to pay it off. I bought my mobile home Like in 1995 and I was kicked out of my mobile home Like in 2015. Then my account was sold to Ditech that did a loan modification which have me owing an outrageous balance after being in our home for 11 years. The endless calls at all times of day and night being that sick, and I am making a long story very short. In 2010 I applied for a Making Home Affordable Plan and made every payment on time and earned the incentives. Anybody know of a good company to refinance with? In support of this motion, Conseco identified three former employees that it alleged had misappropriated its trade secrets. I was forclosed on just before the lawsuit was awarded and Ditect are still sending me statements to pay morgage payments? 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. Sincerely. Accordingly, we find no error in the district court's refusal to grant judgment as a matter of law on the unfair competition claim. R. Civ. Was or used there a class action lawsuit because Id certainly be onboard. They told me if I did not leave my home the Sheriff would B there to put my things out in the snow. Kientzy v. McDonnell Douglas Corp., 990 F.2d 1051, 1061 (8th Cir. P. 50(a) (2). On this Wikipedia the language links are at the top of the page across from the article title. With no place to go and my car was impounded, because my car broke down in a spot, at the mobile home park. To learn more about this transition from Green Tree to ditech, please visit www.ditech.com. On the one hand, the Lackey arbitrator (the same . 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. We agree that both the lead sheets and the information contained in these customer files constitute trade secrets under the act. I have been terribly harassed and thousands of dollars in late fees and interest charges for the past 6 years only to get my loan transferred 2 other times to other loan companies without resolve. Podner said he copied the files in order to aid an employee who wished to make the transition to loan originator. 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. I am a single parent I had a house fire it was total loss Green Tree kept calling about the insurance check when insurance paid I gave check to Green Tree which should have paid my house off instead I had to pay the remaining balance to them and me and my children had no place to live. Does anyone know who to call for me to claim my refund? Im 83 years old, Ive been harassed by Green Tree from the time I purchased the Mobile home in 2001, Ive saw the go from Conseco Finance, Ditech to all kinds of Finance companies, You want ever know who you dealing with, So who actually owns these companies now? [19], Ditech is well known for television commercials that aired during the 2000s. The grounds for the renewed motion under Rule 50(b) are limited to those asserted in the earlier Rule 50(a) motion. Pros. 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. A $12.5 million settlement has been reached and is pending approval in the class action lawsuit filed against Green Tree Financial Corp., formerly Conseco Finance Corp., by shareholders. The Court, however, went on to note that " [w]hile these ratios are not binding, they are instructive. Can someone please help me understand this!!!! It further found that Conseco was likely to succeed on its claims of misappropriation of trade secrets against North American relating to the actions of Podner and Kattleman, but not Bristol. Not stressful at all. 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. It should be paid off and i need the release of lien. A review of the record leaves us with no doubt that the jury had sufficient evidence before it (albeit conflicting evidence) to conclude that North American had engaged in unfair competition and caused damage to Conseco. I refinanced with an actual bank since 2016 and I have no problems. I had a Making Home Affordable Plan and had many problems with them. 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. My mortgage was only suppose to last for 30 years. Reddam's business model quickly extended DiTech's operating territory to seven states by the end of the 1995, and 46 states by the end of 1996. Financed through Greentree in 1995 then went to ditech then shellpoint aka new rez llc even more shady. 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. .WHY? Conseco also filed a motion for a temporary restraining order prohibiting certain North American employees from taking, using, or disclosing documents from Conseco's loan files, and to return any information taken from Conseco's files. Yeah, I almost deserve this. The opposite of how it should work. Cir. And doing something about it, cause Lynn Im that ((((B)))). 4th 495 (2008), held that the test for whether stipulated damages constitute an unenforceable penalty or an enforceable liquidated damages provision centers on whether the damages were a reasonable anticipation of harm caused by breach of the settlement . I have no escrow. After the jury returned a verdict against North American on each of the claims, North American filed several post-trial motions, primarily relating to the damage awards. [2] In May 2014, Ditech announced its re-entry to the U.S. housing market. 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. Id. I have bank statements proving money was taken out and cashed to them and mortgage statements proving the money was never applied to my loan. North American argued in its Rule 50(a) motion (styled "Motion for Directed Verdict") that Conseco "failed to offer sufficient proof that it sustained damages that were proximately caused by [North American's] use or misappropriation of trade secret documents." GT uses unethical practices, and I keep making my payments on time but think about letting them have the 2nd home back because of the harassment. I quit answering the phone calls but saved all their numbers for later proof of their harassment. They keep selling the mortgage to different companies. They tacked on so many years to our loan, that we will never be able to pay it off. 2d 1 (1991)). In response, Conseco contends that North American failed to comply with the requirements of Fed. Zachar, 363 F.3d at 74 (quoting Davignon v. Clemmey, 322 F.3d 1, 13 (1st Cir. [2], In May 2014, Ditech launched a co-branding and joint-venture initiative with more than 600 institutional partners that provide mortgage and refinance loans to their customers. 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. thank you Jill Hardwick. And will not tell me nothing, except, paid your payment, my lawyer told me I dont miss payments. My name is Margaret Heath my home was stolen Jan 2012 by Greentree. Lawsuit, Mortgage with GreenTree/Conseco/Ditech/New Rez-ShellPoint since 1995. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system. P. 50 in its request for judgment as a matter of law and thus has not preserved this argument for appeal. Walsh, 332 F.3d at 1159; LeSueur Creamery, Inc. v. Haskon, Inc., 660 F.2d 342, 346 n. 7 (8th Cir. However, North American also introduced several new legal theories-related to damages-not distinctly articulated in its "Directed Verdict Motion." At the preliminary hearing, Bristol testified that he and the other Conseco employees were put on the payroll of North American on June 30, 2000, for "benefits purposes," and that they did not work for both companies at the same time. Ruby M Eisenring 321-333-2271, We refinance our home with Greentree which eventually transferred to Ditech. We would only have 7 years left, if we didnt do this. However, we cannot allow the punitive damage award to stand at $18 million, and remit the award to $7 million. I think all of them are Scammers. Witnesses for both parties testified that the information contained in these files was recognized by all Conseco employees as confidential, and therefore not to be disclosed. We affirm in part and reverse in part. Helping Clients With Custom Financing Options And Consulting Services, Greentree Offers Direct Financing And. If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings. 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. GREEN TREE, Pa. . The corporation originates, pools, sells, and services manufactured home loans using a vehicle known in the industry as conditional sales contracts. [12], In 2012, during the mortgage crisis, Ally took its residential lending unit into bankruptcy in order to pay back the U.S. Treasury following its acceptance of bailout funds. After the preliminary hearing, the district court entered a narrowly-tailored injunction. I would like to have my house back. 417.453(4) (1995). They told me to pay my payments or lose my mobile home. what happened to greentree financial. I have reached out to several attorneys, but none can help with Mortgage claims. Registered Address GREEN TREE FINANCIAL SERVICES CORP, 8424 SANTA MONICA BLVD. By answering a few simple questions about yourself, and selecting the amount of money you would like to borrow. Ditech had immensely high unaided brand awareness and customer satisfaction, but many people mistakenly thought Ditech was a subprime lender. Website. They first claimed they were not aware of this on time payment incentive from my original banks docs. 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. Conseco's Employee Handbook specifically states that "non-public information about customers, dealers, and others is strictly confidential." 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. [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. We have been a victim of Green Tree / Ditech / Shellpoint abuse and excessive charge of fees. my payments are being sent back to me. Also notifying new media. Working with you to see the big picture, tailoring advice driven by your priorities that can then be addressed through a structured and . Most notably, Conseco's management decided to discontinue loan services in the subprime lending market. Green Tree was so horrible they threatened me while in the hospital. However, North American neither returned the stolen information nor discouraged its employees' use of Conseco's loan files and lead sheets. 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. My house was bought in 2007 for $118,000 in Jan 2012 I owed $ 94,000. 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. [6] GMAC Mortgage renamed DiTech ditech.com.[3] Reddam left the company in 2000. To this day I can remember it like it was yesterday. individuals with low credit scores. Adherence to the rule is mandatory. [7], In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap. PITTSBURGH Three people have been arrested in connection to a shooting in Green Tree on Monday evening. 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. 2003). Also, in order to be considered a trade secret, the information must be the subject of efforts that are reasonable under the circumstances to maintain its secrecy. We find sufficient evidence of "malice or outrageousness" as defined by Missouri law to permit an award of punitive damages in this case. He was the utmost rude one. Business Outlook. The factors to be considered include "the degree of malice or outrageousness of the defendant's conduct, aggravating and mitigating circumstances, the defendant's financial status, the character of both parties, the injury suffered, the defendant's standing or intelligence, and the relationship between the two parties." Pursuant to the requirements of the Order, The estate is no longer able to further process the return of any unclaimed borrower funds. Following the jury verdict, North American renewed its motion under Rule 50(b). I have confirmation numbers from my bank and I have never had a problem paying this way, even to them. North American moved for summary judgment, and the district court granted North American's motion as to misappropriation of customer lists and certain financial information. Bristol also returned a number of documents at his deposition, in accordance with the district court's TRO. And how does this company get away with this by changing their name constantly. Must Convert Temporary Loan Mods into Permanent Ones. Some reps told borrowers they were deadbeats and warned them that nonpayment of their mortgage could result in arrest or even imprisonment. Quite the contrary, North American encouraged others in its offices to replicate the St. Louis scheme, and designated its St. Louis office as a "model" to expand into other cities. On April 11, 2006, Greentree Financial Group, Inc. (Greentree), sued Execute Sports, Inc. (ESI), for breach of contract. State Farm Mut. Trying to get a lien release from green tree. They have doubled my monthly mortgage beyond my ability to pay even if I way not a disable vet. 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. It specializes in "servicing" (debt-collecting) subprime residential mortgages. at 435, 121 S. Ct. 1678. North American responds that the Conseco employees engaged in these acts because of Conseco's financial woes, and that they were simply concerned about their livelihood. Have been layering and looking for help. You're all set! Fed. I had a loan modification with bank of america,the loan were sold to greentree and they cancel the modification,now i have been out of the house for 5months,and they havent made a move to toward claiming or taken control of this property,wish is theirs. Mo. The Catholic Church was going to try to help me pay for part of my Mobile Home Space Rent. My payments went back up to what they were before the nodification. As part of the agreement, Green Tree agreed to pay $48 million in restitution to victims, and a $15 million civil money penalty to the CFPB's Civil Penalty Fund for its illegal actions. Finally, we turn our attention to the punitive damage award and consider the three distinct challenges raised by North American-whether the award was (1) against the weight of the evidence, (2) in violation of due process, and (3) grossly excessive. Also my credit report showed I was never late so Greed Tree robbed us. I tried to explain they were using an 18 month required funds audit for a 12 month payment and contacted CA Department of Business Oversight for assistance. My payment would be lower and I could get interest on my money in the bank to pay my taxes and insurance instead of the mortgage servicer holding it and making money off my escrow account. While 800-643-0202 is Green Tree Servicing's best toll-free number, there are 3 total ways to get in touch with them. Also, some employees noted that Conseco had recently placed significant restraints on its area managers' loan authority. After having been divorced 4 years into the loan and raising children as a single mother, I have made payments late frequently. I just closed on my deal with Greentree on the second. I wonder if Green Tree will go out of business because of this. 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."