|April 17, 2012|
Previously published on April 17, 2012
On April 3, 2012, West Virginia Attorney General Darrell McGraw announced plans to open an office in Martinsburg, W.Va., to target “mortgage problems” in the northern portion of the state. The new office will be funded with settlement proceeds from the 49 state Attorneys General settlement with the top five mortgage servicers.
About $1 million in settlement funds will be used to fund a “SWAT team” sent from his office into the community to help borrowers obtain loan modifications. The Attorney General’s office is working with Legal Aid of West Virginia and referring complaints from borrowers to Mountain State Justice.
The Financial Servicing Litigation Group of Troutman Sanders has defended hundreds of cases in West Virginia on behalf of financial institutions and businesses. These cases include successfully defending consumer class actions by opposing certification, winning on summary judgment, and also defending against complaints brought by the West Virginia Attorney General. The Regulatory Compliance and Government Litigation Team is experienced in handling state Attorney General investigations in West Virginia and the other 49 states.