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Tag Archives: Consumer Protection

The Walking Debt?

Zombie process server face

A new lawsuit targeting a thriving collections business highlights a long simmering controversy over lawsuits filed by so-called “zombie debt buyers.” When banks and payday lenders write off their bad debts, a busy industry steps in to try to generate ...

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Borrower Can Sue on HAMP Contract (access required)

A Richmond U.S. District Court declines to dismiss a class action alleging defendants, SunTrust Mortgage and SunTrust Banks Inc., entered into temporary Home Affordable Modification Program agreements and then breached the agreement by reporting plaintiff as delinquent to credit bureaus, ...

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Loan Guarantee Denial Triggers ECOA Notice (access required)

A mortgage lender’s failure to secure a federal loan guarantee under the U.S. Department of Agriculture’s guaranteed Rural Development program, as allegedly represented to the borrower, was an “adverse action” that required notification under the Equal Credit Opportunity Act, and ...

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Court Misapplied ‘Local Controversy’ Exception (access required)

In plaintiffs’ class action suit alleging defendant real estate appraisers cooperated in defendant mortgage lender’s scheme to use a suggested appraisal value so loans were “underwater” from their inception, the district court could aggregate the named defendant real estate appraisers ...

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