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Home / Opinion Digests / No Diversity for Origination Fee Dispute (access required)

No Diversity for Origination Fee Dispute (access required)

The Richmond U.S. District Court sua sponte remands a borrower’s complaint seeking damages for excessive origination fees after the parties failed to show that the amount in controversy could plausibly exceed $75,000, as required by Twombly and Iqbal. In 2005 borrower, a Virginia resident, obtained a $108,000 refinance loan from affiliated Delaware corporations. ...