August 15, 2014
Alvarez v. BAC Home Loans Servicing, L.P.
Court: California Court of Appeal
Docket: A138443 Opinion Date: August 7, 2014
Areas of Law: Banking, Consumer Law, Real Estate & Property Law
Plaintiffs filed suit alleging, among other things, fraud and unfair business practices in the origination of plaintiffs' residential mortgage loans, and negligence in the subsequent servicing of the loans. On appeal, plaintiffs argued that the trial court erred in concluding that the complaint failed to allege fraud for which defendants are responsible and in concluding that defendants owed no duty of care to plaintiffs in the review of their applications for a loan modification. The court concluded that plaintiffs have alleged a cause of action for fraud against defendants where the complaint alleged that the loan documents concealed the terms of plaintiffs' loans and plaintiffs have alleged facts establishing defendants' liability for the alleged fraud. Accordingly, the court reversed as to plaintiffs' first, second, and sixth causes of action and remanded for further proceedings.
Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager
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