Does a Mortgage Servicing Company Engage In 'Consumer Transactions' With Homeowners Whose Accounts It Services?
Borrower Seeks Damages Under Ohio Consumer Sales Practices Act
Sondra Anderson v. Barclays Capital Real Estate Inc. d.b.a. HomEq Servicing, Case no. 2011-0908
From U.S. District Court, Northern District of Ohio
ISSUE: Does a mortgage servicing company that receives and allocates monthly payments made by homeowners, maintains records of their payment history, imposes and collects late charges and initiates foreclosure proceedings on behalf of the lending institution or investment pool that owns the mortgage fall within the category of businesses that are subject to the Ohio Consumer Sales Practices Act?