Panel: Borrower Lacked Evidence Of Ascertainable Loss In Loan Modification Suit

Mealey's (December 14, 2020, 2:33 PM EST) -- PHILADELPHIA — A federal district court did not err in granting a lender’s motion for summary judgment in a mortgage loan modification dispute because a borrower failed to sufficiently show that he suffered an ascertainable loss resulting from any alleged misrepresentations made by the lender or that the lender’s actions resulted in any breach of contract, a Third Circuit U.S. Court of Appeals panel ruled Dec. 11 in a nonprecedential opinion (Jeffrey B. Broadhurst v. CitiMortgage Inc., No. 20-1665, 3rd Cir., 2020 U.S. App. LEXIS 38790)....