Loan Servicers Not Liable For HAMP Breaches, 11th Circ. Says

Law360, New York (April 19, 2012, 8:17 PM EDT) -- The Eleventh Circuit said Thursday that participants in the federal Home Affordable Modification Program can't sue their mortgage servicers for breaching their HAMP obligations, a decision that sets up a possible split with the Seventh Circuit, said the attorney for the plaintiff who brought the appeal.

Neither HAMP nor the legislation that helped birth it, the Emergency Economic Stablization Act of 2008, implied a private right of action, and no such right exists, a three-judge panel said in a published opinion upholding a lower court's dismissal...
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