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ARTICLE ID 195486

$________ – Breach of Contract – Violation of State Consumer Fraud Act – Plaintiff alleged that defendant lender breached its contract and caused improper foreclosures on her home, due to its deceptive business practices.

U.S. District Court, Northern, Illinois

In this contract matter, the plaintiff borrower alleged that the defendant lender engaged in deceptive business practices, caused multiple improper foreclosures, and violated the state’s consumer fraud laws in its handling of her mortgage loan. The plaintiff opined that she suffered monetary damages, as well as mental anguish and emotional distress. The defendant denied any wrongdoing, and maintained that the plaintiff’s loan modification was invalid, and it did not violate any consumer fraud laws or breach any contract with the plaintiff.

The plaintiff had a mortgage loan that was serviced by AmTrust Bank until that bank failed and was taken over by the FDIC in December ________. In June, ________, the plaintiff entered into a loan modification agreement with the FDIC as receiver for her mortgage holder. The plaintiff’s loan was then transferred to the defendant in August ________. In September of that year, the defendant began rejecting the plaintiff’s monthly payments and refused to acknowledge the existence of the loan modification. The defendant then proceeded to prosecute two separate loan foreclosure actions against the plaintiff, despite the fact that the plaintiff continued to remit her monthly payments per the loan modification agreement. The first foreclosure case was dismissed in favor of the plaintiff in ________. The defendant, however, still continued to reject the plaintiff’s monthly mortgage payments and denied that there was a loan modification agreement. The defendant filed a second foreclosure against the plaintiff in September ________, and prosecuted that case until December ________. The plaintiff continued to complain that there were improper fees and costs assessed against her loan account, as well as attorney fees and costs for the prosecution of the two foreclosure actions. The plaintiff brought suit against the defendant alleging breach of contract for its failure to honor the loan modification agreement, violations of the Illinois Consumer Fraud Act, and for violations of the Real Estate Settlement Procedures Act.

The defendant denied the allegations, and maintained that the loan modification upon which the plaintiff continued to rely was invalid. The defendant maintained that the plaintiff never sent a qualified written request letter required under RESPA, and it did not commit any unfair or deceptive business practices.

The matter proceeded to trial over a period of six days.At the conclusion of the trial, the jury deliberated for two hours and returned its verdict in favor of the plaintiff. The jury awarded the plaintiff the sum of $________ in damages, consisting of $________ in compensatory damages, and $________ in punitive damages.

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