BofA, JPMorgan Defeat Loan Modification Fraud Class Action

Law360, New York (February 21, 2014, 3:42 PM EST) -- A California judge on Thursday threw out a putative class action accusing Bank of America NA, JPMorgan Chase Bank NA and other mortgage servicers of stonewalling loan modification applications, ruling that the borrower plaintiffs could not blame property foreclosures on modifications for which they did not qualify.

U.S. District Judge David O. Carter dismissed the suit for the second time and said it could not be refiled, holding that the plaintiffs had failed to plead a case for fraud with the required specificity and did not...
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