Mealey's Antitrust/Unfair Competition - Judge Dismisses Class Action Suit Alleging Fraud From Loan Modifications

Mealey's Antitrust/Unfair Competition - Judge Dismisses Class Action Suit Alleging Fraud From Loan Modifications

LOS ANGELES - A federal judge in California on Feb. 20 dismissed with prejudice a third amended complaint brought by plaintiffs claiming that misrepresentations made by loan servicers about the borrowers' ability to obtain loan modifications they did not qualify for resulted in the foreclosure of their homes, finding that the allegations did not include the required amount of specificity (Tom Casault v. Federal National Mortgage Association, et al., No. 11-10520, C.D. Calif.).

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