Judge Finds Borrower’s Claims Are Not Capped By Homeowners Protection Act

Mealey's (December 1, 2017, 12:23 PM EST) -- NEWARK, N.J. — A New Jersey federal judge on Nov. 30 granted a bank’s request to dismiss its parent company from a lawsuit filed by a borrower in relation to mortgage insurance premiums, but rejected its arguments that it was entitled to summary judgment because the Homeowners Protections Act (HPA) capped the borrower’s potential damages at $500,000 (Ginnie Fried v. JP Morgan Chase & Co., et al., No. 16-3069, D. N.J., 2017 U.S. Dist. LEXIS 196839)....

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