Blank Rome Secures Significant Defense Victory for PennyMac Corp. in Tran, et al. vs. PennyMac Corp., et al.
Blank Rome secured a total defense victory for PennyMac following a jury trial in Orange County, CA Superior Court.
In a congratulatory e-mail to the Blank Rome team representing PennyMac, General Counsel Mallory Garner stated:
"We're so appreciative of the time, dedication and hard work Howard Knee, Cheryl Chang, and Jessi McElroy put into this case, and it clearly paid off through the best result we could have hoped for. It's one thing to convince a judge there wasn't a wrongful foreclosure, but it's another to convince a jury, and they accomplished both! We value our partnership with Blank Rome, under Wayne Streibich's tireless leadership, and we look forward to celebrating more victories in the future. Thanks so much again and great job, team!”
PennyMac’s Senior Vice President and Associate General Counsel, Eric Jorgensen, added that this was a “spectacular victory” and that:
“Convincing a judge, let alone a jury, that a mortgage company acted legally and ethically in foreclosing a home loan is no small feat, given the emotions involved and the press the mortgage industry has received over the last decade. It took meticulous and thoughtful lawyering to pull that off and the Blank Rome team provided that and more throughout the life of the litigation. They did a magnificent job and, consequently, delivered a magnificent result.”