EMC or Bear Stearns Residential Mortgage has been sued and there is a lawsuit pending that is class action status: Here is the info and it is also contained on MSFraud.org under the legal lounge.
Scott Rodriguez Dejay, Nisha Modica and Tammy Smith are the main plaintiffs listed and it gives way to other class action plaintiffs that have been harmed by EMC and Bear Stearns.
The Case # 3.07CV1816 (JCH) was filed in civil cout in Connecticut as that is where Bear and EMC Corporate is located.
In a nutshell EMC at Bear Stearns direction targeted Minority homeowners and purchased their loans because most of them were considered subprime or as EMC and Bear refered to in manuals as 'scratch and dent'. They then used deceptive practices including force place insurance, lost and misapplied payments, paid taxes that were in escrow late throwing the borrower in deliquent status etc, etc, and you all know EMC and Bears sordid history.
There is a hit list of charges in the lawsuit. One of the attorney agencies names as representatives for plaintiffs are James Hoyer and Associates, their number is 1 800 634 0877.
If you believe that you have been victimized by this company give them a call, others are listed in the lawsuit as well.
Isn't it a nice feeling when justice prevails and that these crooks are about to get what is coming to them and are as we speak, and their mighty company Bear Stearns going down in blaze of shame this past week. Too bad the Fed couldn't just let them go down for all of the hateful, spiteful and shameful way that they have targeted and treated people now and in the past. The only other thing that could be perfect is that the attorney agencies that do Bear and EMC's dirty work will get theirs too.
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