Rushmore Loan Management Lawsuit
- by Gavin
This post contains information on the recent Rushmore loan management lawsuit which has gripped the media recently. Rushmore Loan Management has many thousands of clients and is at the forefront in the Maryland mortgage industry. This company has provided many services to homeowners in the area including assistance with foreclosure prevention, helping homeowners negotiate loan modifications, providing budget counseling, and even helping homeowners file bankruptcy.
However, this service was put into question when a member of staff was seen entering a house in an intoxicated state. There were also accusations that this behaviour was condoned by senior management and that clients were told not to call police if a police officer was called.
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Rushmore Loan Management Lawsuit
The lawsuit was filed by attorney David Kinsella, who is acting on behalf of the principal named in the suit, pressuring the lender to end the abusive behaviour of its debt collectors. The suit names as defendants Rushmore Loan Management LLC, its president and two other officers. The suit further names as defendants William Conaway, Robert Daugherty, Frank Kern, Ronald Kirby, and Joseph Vaska. Mr Conaway is the president of the company and Mr Daugherty is the company’s treasurer.
According to the suit, the employees of Rushmore had no training on dealing with troubled customers, did not know how to deal with aggressive and intimidating debt collectors, did not practice proper supervision, and did not follow proper procedures when dealing with clients who were either non-paying or defaulting on their mortgage repayments.
The officers entered the house of the principal almost naked looking big especially for their badges which were very dirty, did not ask permission before gaining access to the home and proceeded to disturb and harass the resident and his family.
One of them actually accosted the family’s teenage son, while the latter was supposed to be at school. All this took place just after the family received a telephone call from the principal’s office informing them that their son had stopped making payments on his house.
When the family complained about the harassment and the dirty uniforms of the personnel, the company’s president defended the conduct of his employees stating that the plaintiffs were mistaken and that they should have asked for police assistance.
He also said that the company was not liable because it only wanted to do its job and retrieve the money that it owed to the principal. The lawsuit filed by the families’ demands that the company provide remedial and appropriate training to its employees. They also demand that the company improve its system for tracking delinquent accounts so that such occurrences may be avoided in the future.
The suit further demanded that the company supply proper guidelines for its personnel in dealing with distressed borrowers and provide guidelines for monitoring the payment of accounts. Finally, it is requested that Rushmore promptly pay all monies owed to the principal.
Rushmore Loan Management is one of the leading lending institutions in the area.
It deals with a large number of borrowers who are regularly paying late on their house or car loans. The company also provides financial advice to its clients to help them avoid any financial disasters.
In a similar case, the Rushmore Loan Management Corporation filed a settlement against the city of Lehigh Valley, Pennsylvania, in which the corporation settled the claim of an individual who sustained serious injuries while playing tennis at a local country club. The victim’s medical expenses totaled more than $7500.
This is just an example of how loan management companies can get stuck in the litigation process.
One may have different reasons to sue, but there is no justification behind doing so. There are several ways in which a client can settle a case without having to go to court. Most importantly, if you are satisfied with the results, then you should ask for a written agreement that spells out your obligations as a result of winning the lawsuit.
This post contains information on the recent Rushmore loan management lawsuit which has gripped the media recently. Rushmore Loan Management has many thousands of clients and is at the forefront in the Maryland mortgage industry. This company has provided many services to homeowners in the area including assistance with foreclosure prevention, helping homeowners negotiate loan…
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