Loan Servicer Aurora Beats Suit Challenging Foreclosures

Law360, New York (March 16, 2012, 12:24 PM EDT) -- Aurora Loan Services LLC on Thursday claimed victory in a putative class action in California accusing it of causing illegitimate foreclosures, successfully arguing the Truth In Lending Act did not apply to loan servicers like itself.

U.S. District Judge Cormac Carney turned down named plaintiff Trang Che's claim that the Aurora Bank FSB unit violated the Truth In Lending Act by not providing information to homeowners about transfers of their mortgages and hiding that it had taken over as the creditor. According to the suit, Aurora...
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