FELDMAN GRAF PREVAILS IN PUNITIVE DAMAGES AWARD AGAINST DHI MORTGAGE, DR HORTON WHOLY OWNED MORTGAGE COMPANY
On March 2, 2011, the jury came back with a punitive damages award in favor of Feldman Graf’s client and against DHI Mortgage, DR Horton’s Wholy Owned In-house Mortgage Company. A jury awarded Six Hundred and Seventy-Five Thousand Dollars ($675,000.00) in Punitive Damages based upon Fifty Three Hundred Dollars ($5,300.00) in Compensatory Damages. Based upon a prior jury’s findings of Fraud and Deceptive Trade Practices, that were previously upheld by the Nevada Supreme Court. This jury verdict details the excesses of this national builder, and its efforts to vertically intergrade into the home mortgage industry. This verdict displays to what lengths this national builder would go to further their profits, including falsifying submittals and making false statements in order to force an individual into the sub-prime lending market.