Mortgage Investors Corp. (MIC) settled a class action this week for $7.4 million for its alleged violations of the Telephone Consumer Protection Act (TCPA) in an Oregon federal court. Plaintiffs stated in their complaint that MIC made millions of unsolicited telephone calls to veterans marketing refinancing options for their home loans. Plaintiffs also alleged that they received multiple, harassing telephone calls even though their telephone numbers were on the National Do-Not-Call Registry and they did not provide prior consent to receive these telemarketing calls.

U.S. Magistrate Judge Janice M. Stewart said, “For the reasons stated by plaintiffs in their motion… including lack of any objection by any class member, this court concludes that all factors strongly favor final approval of the settlement agreement.”  Part of the settlement will cover $1.8 million in attorneys’ fees and $5,000 incentive fees to the two class representatives.