Federal Reserve Board files Motion to Consolidate NAIHP & NAMB Lawsuits

Federal Reserve Board files Motion to Consolidate NAIHP & NAMB Lawsuits

The Federal Reserve Board filed a Motion in U.S. District Court to consolidate lawsuits filed against them by the National Association of Independent Housing Professionals (NAIHP) and the National Association of Mortgage Brokers (NAMB).

READ the actual Lawsuits

This move was predictable by the Fed, according to Marc Savitt, NAIHP President.  The only reason NAMB was originally assigned a separate Judge, was because their legal counsel failed to acknowledge another related case (NAIHP), had previously been filed.

NAIHP has always believed a united front, would enable the industry to prevail in this matter.

Savitt indicated he is looking forward to working with NAMB to achieve success for consumers and the mortgage and housing industry, while NAMB’s attitude appears to be very negative towards NAIHP?

I’ve read both lawsuits. I’m no big shot lawyer. In my humble opinion, I like the NAIHP suit a LOT better?

Thoughts?


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