Birmingham Lending Lawsuit Dismissed
From: Associated Press
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By Shannon Delcambre
Assignment Manager
Published: November 19, 2008
A lawsuit against several financial corporations has been dismissed.
According to a news release from Regions Financial Corporation, officials with the City of Birmingham dismissed a lawsuit filed against Regions Bank, Wells Fargo, Countrywide and Argent Mortgage.
Regions Area Executive for Central Alabama Bill Ritter issued this response:
“Regions is pleased that the City of Birmingham has dismissed this lawsuit. We’re one of the largest mortgage lenders in the city and yet we’ve foreclosed on just three homeowners in the city this year. That demonstrates clearly that the facts simply did not support this suit. In fact, across our franchise, our foreclosure rate is less than half the national average, and we always work with distressed borrowers to keep foreclosures at a minimum….we’re glad that logic and the facts have prevailed.“
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