Sub-Prime Lending Leads the News: Investment Banks and Credit Rating Firms Are New Targets

more+
less-

For mortgage brokers, lenders, realtors, title companies, and loan servicing companies – and now investment banks and credit rating firms as well – the current “crisis” in sub-prime lending dramatically increases the risk of litigation in the near future. State attorneys general, community activists, fair housing

advocates and debtors’ attorneys are becoming more aggressive in pursuing claims against any party connected with a troubled sub-prime loan. Yesterday’s sub-prime loan can easily turn into tomorrow’s “predatory loan.” The result could be a lawsuit which, like many Ulmer & Berne attorneys have seen recently,

alleges common law fraud, racially targeted marketing or solicitation practices, “redlining” and/or race discrimination in lending, violations of the Fair Credit Reporting Act, and violations of the Fair Debt Collection Practices Act.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Richik Sarkar, McDonald Hopkins LLC | Attorney Advertising

Written by:

more+
less-

McDonald Hopkins LLC on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×