'Trigger Lead' Mortgage Claims Lack Merit: 2nd Circ.

By Pete Brush

Law360, New York (October 06, 2009, 4:03 PM ET) -- A federal appeals court has affirmed the dismissal of a Rochester, N.Y.-based mortgage lender's putative class action accusing three major consumer credit rating agencies of misappropriation of trade secrets, breach of contract, fraud and unfair competition related to their sale of “trigger leads” to third-party home lenders.

Monday's ruling, in the U.S. Court of Appeals for the Second Circuit, concluded that Premium Mortgage Corp.'s state law claims against Georgia-based Equifax Inc., Delaware-based Trans Union LLC and Ohio-based Experian Information Solutions Inc. either are preempted by the...
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