Lender fee class actions vanish after defendant dissolves

Steve Korris Apr. 9, 2008, 6:21am

Judge Hylla

Two Madison County class actions that the Lakin Law Firm proposed in 2002 against Creve Coeur Mortgage Associates turned into one, which turned into nothing.

"Defendant is no longer in business as a going concern," the Lakin firm informed Circuit Judge David Hylla on March 28.

Hylla on April 2 dismissed the claims of Lakin plaintiffs Rex Buckingham, Shirley Ramsey and Joseph Ramsey.

In this suit and many others, Lakin plaintiffs claimed mortgage lenders charged improper fees when closing home loans.

Buckingham and the Ramseys originally filed two suits against Creve Coeur Mortgage Associates, but the court consolidated the cases.

A docket entry last August stated that the parties intended to settle, but soon after that the Missouri Secretary of State dissolved Creve Coeur Mortgage Associates.

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