Two mortgage companies filed suits against FCA.
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The suits were filed by National Home Equity and Deseret Pacific Mortgage. Home Equity accused Financial Corp. of America of terminating a mortgage service agreement the two firms had, while Deseret Morgage said the S&L; holding company had “unilaterally abrogated” a $50-million line of credit. National Home Equity is seeking more than $100 million in damages, while Deseret Pacific’s suit seeks more than $200 million. An FCA spokesman said the company was unable to comment because it hadn’t seen a copy of the suit.
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