Confidential
Settlement – $325,000Judge
Court
San Mateo Superior
Attorneys
Plaintiff
Defendant
Brad W. Seiling
(Manatt, Phelps & Phillips LLP)
Facts
In 1998, the defendant bank, a "subprime" lender, refinanced the mortgages of the ten homeowner borrower
plaintiffs. The arbitration agreements included in the loan papers were signed by nine of the ten plaintiffs,
except one, who didnÆt sign for unknown reasons.
In March 2000, the defendants, including the bankÆs parent company and an affiliate left the mortgage
refinancing business. After the complaint was filed in August 2000, the nine plaintiffs who signed arbitration
agreements accepted the defendantsÆ demand for arbitration for their personal monetary claims only.
Settlement Discussions
The mediation of this case took one day in front of JAMSÆ mediator Ellen James. The case settled for $325,000, of which $112,199 was allocated to plaintiffÆs attorneysÆ fees and expenses.
Other Information
<M>The mediation of this case took one day in front of JAMSÆ mediator Ellen James. The case settled for $325,000, of which $112,199 was allocated to plaintiffÆs attorneysÆ fees and expenses.</M>
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