Pa. Justices Won't Extend New Fee Protections To Old Loans

Law360 (August 18, 2020, 4:37 PM EDT) -- The Pennsylvania Supreme Court agreed on Tuesday that amendments to a state law raising the monetary ceiling on mortgages entitled to protection from excessive legal fees in foreclosure proceedings could not be applied retroactively as part of a class action against Phelan Hallinan & Schmieg LLP.

In a unanimous decision, the justices ruled that an amendment to the state's Loan Interest and Protection Law upping the ceiling on loans qualifying for protection under the statute from $50,000 to nearly $220,000 did not apply to loans made before the change went into effect in 2008.

As a result, the court said that...

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