Mealey's Banking & Finance - Borrower Failed To State Claims Against Loan Servicer, Federal Judge Rules

CORPUS CHRISTI, Texas - A borrower who alleged that a loan servicer breached the terms of a trial payment plan by foreclosing on his home was unable to state claims against the company because the plan was not an enforceable contract, a federal judge in Texas ruled March 25 in awarding judgment to the defendant (Felipe Sauceda v. Select Portfolio Servicing Inc., No. 13-CV-397, S.D. Texas; 2014 U.S. Dist. LEXIS 38766).

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