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Mortgage Broker Escapes Sentencing Enhancement for Fraudulent Loan Conviction: Seventh Circuit Refuses to Find Abuse-Of-Trust between Broker and Lenders

Yesterday, the Seventh Circuit rejected Fifth and Eighth Circuit precedent by holding that 18 USCS Appx § 3B1.3 's abuse-of-trust sentencing enhancement was not applicable per se to a relationship between lenders and a mortgage broker who had falsified loan applications and provided phony...

Texas Court Holds No Duty to Defend Under Mortgage Broker E&O Policy

In its recent decision in AXIS Surplus Lines Ins. Co. v. Halo Asset Management , LLC, 2013 U.S. Dist. LEXIS 139065 (N.D. Tex. Sept. 27, 2013) [ enhanced version available to lexis.com subscribers ], the United States District Court for the Northern District of Texas had occasion to consider whether an...