Homeowners Failed To State Claims Against Lenders, Loan Servicers, Judge Rules
SAN FRANCISCO - A federal judge in California on July 27 granted seven motions to dismiss filed by lenders and loan servicers who are alleged to have engaged in a scheme to solicit high-risk adjustable-rate mortgages (ARMs) to elderly, minority and financially distressed homeowners, ruling that the homeowners involved in the massive class action lawsuit have failed to properly state their claims (Mark Biggins, et al. v. Wells Fargo & Co., et al., No 09-01272, N.D. Calif.; 2009 U.S. Dist. LEXIS 64620). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com Full story on lexis.comFiled by admin at August 31st, 2009 under News