Plaintiffs Denied Class Certification In TILA, HOEPA Scheme Suit

Mealey's (August 20, 2021, 8:17 AM EDT) -- DETROIT — A federal judge in Michigan on Aug. 17 declined to certify a class of real estate property purchasers in a lawsuit alleging that a real estate broker, several companies he owns and a real estate agent violated provisions of the Truth In Lending Act (TILA) and the Home Ownership Equity Protection Act (HOEPA) by engaging in a scheme to elicit home purchasers to enter into residential mortgage transactions that would circumvent certain provisions of the statutes....