Former Trump Mortgage LO Sues to Recover $298K in Unpaid Reimbursements

Feb 11, 2019

The U.S. Department of Housing & Urban Development (HUD) has charged Plano, Texas landlords Quang Dangtran and his wife, Ha Nguyen, with violating the Fair Housing Act by refusing to lease a room to a prospective tenant because she is African-American

A new lawsuit is seeking compensation for a legal decision made a decade ago against the defunct Trump Mortgage operation.

According to a Newsday report, Jennifer McGovern, a former part-time Loan Officer at Trump Mortgage, said she never received any of the $298,274.41 that a judge ordered paid to her in February 2009. McGovern, who worked at Trump Mortgage October 2005 to May 2006, said she was responsible for a $26.5 million deal involving an industrial complex. However, McGovern was paid by commission only and she estimated that she was deserving of a $238,000 commission under the terms of her contract, which entitled her to 45 percent of any Trump Mortgage commission. But, she added, the company fired her when she refused to accept a new contract that capped her commissions at $10,000.

Trump Mortgage went out of business in 2007 after less than two years in operation, and all real estate operations under the Trump brand are now handled by the Trump Organization. McGovern stated that she believed her chances of gaining compensation were “slim to none.” The Trump Organization did not issue a public comment on the lawsuit.

About the author

Phil Hall

Link copied

Published

Feb 11, 2019

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Nov

Houston, TX

More from

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data

Oct 02, 2026

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data

Oct 01, 2026

Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data

Sep 29, 2026

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data

Sep 25, 2026

Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data

Sep 25, 2026

Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech

Sep 23, 2026

Popular