WRRSV is pleased to announce a $3,000,000 class action settlement in Gilmor, et al. v. Preferred Credit Corporation, et al., Case No. 4:10-cv-00189-ODS.
Impac Mortgage Holdings, Inc., IMH Assets Corporation, Impac Funding Corporation, Impac Secured Assets Corporation, Wingspan Portfolio Advisors, LLC (collectively, “Impac Defendants”) have agreed to pay $3,000,000 to settle the claims of 303 class members who obtained 177 loans that were purchased by, assigned or conveyed to, or otherwise owned and/or held by or serviced by Impac Mortgage Holdings, Inc., IMH Assets Corporation, Impac Funding Corporation, Impac Secured Assets Corporation, and/or Wingspan Portfolio Advisors, LLC,. Class Members who do not opt out of the Settlement will be entitled to a substantial settlement payment under the Settlement. The estimated settlement payments range from a low of $2,684 to a high of $46,235, with an average of $14,208.
Class Members can see what we currently estimate the amount of their settlement payment to be by accessing the Proposed Distribution Schedule. To access the Proposed Distribution Schedule for your settlement benefit, click here.
March 6, 2013: The District Court for the Western District of Missouri has entered its order giving final approval to the Settlement Agreement reached with Impac Mortgage Holdings, Inc., IMH Assets Corporation, Impac Funding Corporation, Impac Secured Assets Corporation, Wingspan Portfolio Advisors in Michael P. and Shellie Gilmor, et al v. Preferred Credit Corporation, et al. The order will become final on April 6, 2013, and we anticipate sending initial distribution checks to Impac Settlement Class Members beginning sometime in late April or early May, 2013.
Links to Settlement Documents:
Links to Other Pleadings, Orders, Reports, and Documents:
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