Borrower Properly Pleaded Reliance In Mortgage Fraud Suit, Panel Rules

Mealey's (January 10, 2023, 2:47 PM EST) -- RICHMOND, Va. — A federal district court erred in dismissing a borrower’s Virginia common-law fraud claim against his lender in a lawsuit stemming from an alleged mortgage fraud scheme because the borrower sufficiently pleaded reliance in bringing the claim, a Fourth Circuit U.S. Court of Appeals panel ruled Jan. 9 in vacating and remanding....