The attorneys at Markovits, Stock & DeMarco, LLC filed an Ohio class action lawsuit against Quicken Loans, LLC and Mortgage Electronic Registration Systems, Inc. (“MERS”) for failing to timely file mortgage releases in violation of Revised Code Section 5301.36. The class action complaint alleges that Quicken Loans and MERS filed a mortgage release relating to the plaintiff’s property more than 90 days after the mortgage was satisfied (i.e. paid off). The plaintiff filed the complaint on behalf of himself and all other Ohio mortgagors or current owners for whom MERS and Quicken Loans failed to timely file mortgage releases. Under Ohio law, the failure of the mortgagee to file the mortgage release within 90 days of the mortgage being satisfied results in $250 statutory damage to the mortgagor (borrower) and the current owner of the property.
Please view a copy of the class action complaint here, and the case caption is Voss v. Quicken Loans, LLC, No. 2002899, Hamilton County Court of Common Pleas.
If you recently purchased a property or satisfied the mortgage on your property (through paying off the mortgage and retaining the property or through selling the property) and would like to determine whether the mortgage was timely released, please contact Markovits, Stock & DeMarco for a free case consultation: (513) 651-3700 or [email protected].