Credit: Jakub Krechowicz/Shutterstock.com Federal Judge Rejects Mortgage Lender's Reliance on 'Marriott' Ruling Vacated by 4th Circuit in August
On Aug. 18, the U.S. Court of Appeals for the Fourth Circuit vacated the district court's ruling on appeal, and therefore, the "predominance analysis on which MBA relies is no longer good law," a U.S. District Court judge wrote.
September 11, 2023 at 03:22 PM
6 minute read
A federal judge in Maryland granted several homeowners' motion for class certification in a suit alleging their lender, MBA Mortgage Services, received kickbacks in exchange for referring residential mortgage loans to All Star Title for settlement services at nearly double the rate of other companies.
Fourteen plaintiffs, led by Matthew S. Remsnyder, each closed on a residential mortgage loan between 2009 and 2015 with MBA as the lender and All Star as the settlement services provider, though All Star is not a named party in the case. The plaintiffs allege that All Star charged MBA's borrowers excessive fees for title and settlement services and then funneled that money back to MBA when All Star made payments to third-party marketing companies for MBA's marketing expenses, according to the Sept. 6 opinion.
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