Judge Says Loan Applicants Aren’t Purchasers Under Law, Didn’t Rely On Statements

(January 24, 2024, 9:39 AM EST) -- PHILADELPHIA — Mortgage applicants who received what they admit was a conditional approval are not purchasers and, therefore, are not protected by Pennsylvania’s consumer protection law and lack any evidence of reliance on misstatements about the loan that could form the basis of a fraud claim, a federal judge in Pennsylvania said in granting summary judgment....