The New York Times article highlights two recent cases focusing on the behavior of banks in the loan administration and collection process and ruling in favor of borrowers. In one case the judge concluded the bank “abused” the borrowers and in another that it “forged” documents. Both cases, however, seem to essentially come back to… Continue Reading
Tag Archives: borrowers
Borrowers Beware: Lenders Owe No Duty to Borrowers to Determine Ability to Repay a Loan
Posted in LeasingIn late 2010, the First District Court of Appeals in California ruled against borrowers who sought to allege fraudulent misrepresentation against a lender who intentionally misrepresented their income in a loan application, and ultimately they could not afford to repay the loan. The Court based its ruling in part on a finding that there is… Continue Reading
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