LoanCare faces revived class action on prepayments

Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint.

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The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S. Court of…