Judge Refuses To Remand Foreclosure Class Action Suit, Finds Damages Exceed $5M

Judge Refuses To Remand Foreclosure Class Action Suit, Finds Damages Exceed $5M

CLEVELAND - A federal judge in Ohio on Dec. 17 denied a motion to remand a class action lawsuit brought by borrowers claiming that their loan servicers lacked the authority to file foreclosure actions against them, finding that jurisdiction was established under the Class Action Fairness Act (CAFA) because the aggregate damages sought by the proposed class exceeded $5 million (Lisa Johnson, et al. v. Bank of America, N.A., et al., No. 13-cv-02323, N.D. Ohio; 2013 U.S. Dist. LEXIS 176656).

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