A New York couple who were going through a loan modification process with their servicer filed a putative class action complaint, alleging that the servicer improperly and untimely processed their mortgage assistance applications so that it could charge them excessive loan delinquency fees.
The servicer, Bank of America, filed a motion to dismiss, but a New York district court found RESPA violations against the company, with the couple sufficiently alleging both actual damages and statutory damages in its case.
Read on for details of the ruling, and why the granting of a loan modification by Bank of America was not enough to keep the couple from sufficiently pleading actual damages.
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