A Jefferson County, Texas couple purchased a home in Port Neches, Texas in 2002. They signed a typical mortgage agreement with a local bank. The mortgage was then sold to Compass Bank.
At some point, the plaintiffs fell behind in their mortgage payments. Compass Bank notified them of the delinquency in 2013. That year, the couple and Compass Bank entered into a loan modification agreement. Four months later, however, the bank alleged the homeowners were still in default.
The couple sued Compass in 2015, asking for more than a million dollars and an injunction. Plaintiffs alleged Compass Bank had misrepresented the terms of the 2013 agreement; breached the agreement; and engaged in deceptive trade practices.
After nearly three years of litigation, a jury rendered a verdict.
The jurors found Compass Bank failed to comply with the 2013 agreement and awarded the couple $72,995.45 in compensation. The jury also found Compass Bank engaged in deceptive acts and unconscionable actions. Jurors also found Compass acted knowingly and awarded the couple $105,000. A total of $185,000.00 was also awarded as attorney's fees, which includes representation if Compass Bank appeals to the Texas Supreme Court.
The jury awarded the plaintiffs $4,000 each for their past mental anguish, but declined to award them damages for their future mental anguish or for past and future damage to their credit score. "JC jury hits Compass Bank with $370K verdict, half of amount awarded as attorney's fees," www.setexasrecord.com (Oct. 15, 2018).