Deceptive Mortgage Lending Practices

Are you frustrated with a mortgage company that advertised a low interest rate on a loan but failed to deliver after charging you an up-front appraisal or application fee?

Under federal law, lenders are required to provide potential customers a “good faith estimate” of the interest rate and any fees that they will be charged in connection with a mortgage loan and may not charge customers any fees (except a reasonable credit check fee) until such a good faith estimate is provided.

If your lender failed to provide you with a good faith estimate, required you to pay an appraisal or application fee as a condition of obtaining an estimate, or attempted to change your credit terms without good cause, we may be able to help.

Nichols Kaster is currently investigating whether various companies may have violated applicable consumer protection laws by advertising attractive low interest rates and then failing to deliver, often after consumers were charged significant fees as part of the application process. If this has happened to you, please contact us to take action.