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Mealeys

Mealey's Banking & Finance - Judge Says Jury Should Decide If Mortgage Lender Breached Fiduciary Duty

SPARTANBURG, S.C. - A federal judge in South Carolina on Sept. 26 ruled that a jury should determine whether a mortgage lender breached its fiduciary duty by failing to guide a couple through the process of closing on a loan and whether they sustained damages as a result but that the plaintiffs did not have enough evidence to support their claims under the Real Estate Settlement Procedures Act (RESPA) and South Carolina Unfair Trade Practices Act (SCUTPA) (Kevin Cantrell, et al. v. New Penn Financial LLC, et al., No. 17-cv-01078-DCC, D. S.C., 2019 U.S. Dist. LEXIS 164999).
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