Posts tagged West Virginia Consumer Credit Protection Act.
In McFarland v. Wells Fargo Bank, N.A., 14-2126 (4th Cir. Jan. 15, 2016), the Fourth Circuit Court of Appeals examined the argument that a loan was substantively unconscionable because it vastly exceeded the worth of the residential property by which it was secured. The case drew the attention of numerous amici for both the lender and the borrower. In short, during the height of the housing bubble, the borrower received a call from a mortgage broker that the value of his home had doubled in two years. The borrower refinanced his home to pay down other debt, but could not manage the larger ...
Tags: burr forman, Consumer Finance Litigation, Consumer Finance Litigation & Arbitration, Consumer Finance Litigation blog, Fourth Circuit Court of Appeals, McFarland v. Wells Fargo Bank, Unconscionable Inducement, West Virginia Consumer Credit Protection Act, West Virginia Supreme Court of Appeals