California Real Estate Fraud Report

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18
Feb

Attorney David Biderman explains rights of borrowers in California

In this interview in DSNews, attorney David Biderman, a partner in Perkins Coieexplains the expanded role of loan servicers in the banking industry, Dodd-Frank, and the growing role of the Consumer Financial Protection Bureau (CFPB) in protecting the rights of borrowers.

Significant is this paragraph under the second bold-face section of the article:

“In California, we have our own state rules providing, essentially, rights to borrowers. The other thing is, virtually all of these regulations that were enacted after Dodd-Frank, all of them provide for private rights of action. So if there’s a violation under any kind of notices that are required, an individual borrower can sue. So there are a lot of technical violations for which a borrower has a right to bring a claim – notice of errors, information requests, payoff requests, those kinds of things. There can be problems, and then borrowers have a right to bring a claim.”

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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