Hylla to hear arguments for settling Countrywide class action
Madison County Circuit Judge David Hylla is set to hear preliminary arguments in favor of settling a long-running class action case against mortgage lender Countrywide Home Loans on Jan. 20.
Attorneys for lead plaintiff Todd Morgan and the class filed their amended notice of the approval hearing Dec. 18.
No details of the settlement were available in the case's filings Tuesday.
Todd Morgan filed on behalf of himself and a class of home-loan borrowers who alleged that Countrywide charged fees for loan discounts while failing to lower borrowers' interest rates.
The 2003 case was one of a spate of lawsuits brought against mortgage brokers between 2002 and 2005.
The case was one of a group filed by the Lakin Law Firm-Freed and Weiss partnership before the pair of firms went their separate ways. The Lakin firm is now known as LakinChapman.
Freed and Weiss of Chicago withdrew from the Countrywide suit in April 2008.
The hearing is set to begin at 10 a.m.
The class is represented by Paul Marks of LakinChapman LLC. The firm filed its substitution of name in December.
Countrywide is represented by Beth Bauer.
The case is Madison case number 03-L-980.