7th Circuit Finds Lender Is Not Liable For Fees Incurred For Use Of Program
(June 28, 2016, 2:02 PM EDT) -- CHICAGO — The Seventh Circuit U.S. Court of Appeals on June 27 affirmed a district court's judgment in favor of a residential mortgage lender, finding that it was not liable to pay another lender that acted as a sponsor for a mortgage-related computer program fees that it incurred (Nationwide Advantage Mortgage Co. v. GSF Mortgage Corp., No. 15-3361, 7th Cir.; 2016 U.S. App. LEXIS 11699).
(Opinion available. Document #85-160712-014Z.)
Nationwide Advantage Mortgage Co. (NAMC), a subsidiary of Nationwide Mutual Insurance Co., buys, services and sells mortgages....