Long & Foster^® Real Estate, Inc., the largest independently-held residential real estate company in the United States, is pleased to announce that it has prevailed in the ongoing class-action litigation regarding Prosperity Mortgage Company.

The suit alleged that Prosperity Mortgage was a “sham” business entity that performed little or no work in connection with mortgage transactions. The jury in the case was able to quickly reach a unanimous decision in favor of Prosperity Mortgage, Long & Foster, and Wells Fargo.

The facts show that Prosperity is and has been operating as a fully legitimate mortgage lender working toward assisting buyers and sellers across the Mid-Atlantic region. The company has multiple locations across several states and an exceptional team of employees from loan officers to closers whose focus is simply to help clients get competitive financing and refinancing products in a streamlined manner.

“We believed all along that the allegations made in the case were unfounded,” said Jeff Detwiler, president and chief operating officer of The Long & Foster Companies. “While it has been a long and drawn-out process, we are pleased with the results. This validates what we knew all along – that our mortgage company did, does and always will act in full compliance with the law; but more importantly that no consumers were ever harmed in any way. We remain committed to helping home buyers and sellers achieve successful real estate and mortgage transactions.”