Appeal from the United States District Court for the Northern District of West Virginia, at Wheeling. of West Virginia, Incorporated, Defendants - Appellants, and DEWEY V. AMROCK INC., f/k/a Title Source, Inc., d/b/a Title Source Inc. SHEA, Individually and on behalf of a class of persons, Plaintiffs - Appellees, v. PUBLISHED UNITED STATES COURT OF APPEALS FOR THE FOURTH CIRCUIT No. Accordingly, the court affirmed in part and vacated and remanded in part. The district court may consider the implied covenant of good faith and fair dealing to the extent that it is relevant for evaluating Quicken Loans' performance of the contracts. The court agreed with plaintiffs that the covenant of good faith and fair dealing applies to the parties' contract, but concluded that it cannot by itself sustain the district court's decision at this stage. The court explained that the district court will need to address defendants' contention that there were no damages suffered by those class members whose appraisals would have been the same whether or not the appraisers were aware of the borrowers' estimates of value-which one might expect, for example, if a borrower's estimate of value was accurate. However, the court concluded that the district court erred in its analysis of the breach-of-contract claim. The Fourth Circuit concluded that class certification is appropriate and that plaintiffs are entitled to summary judgment on their claims for conspiracy and unconscionable inducement. The district court granted summary judgment to plaintiffs. Plaintiffs filed suit alleging that pressure tactics used by Quicken Loans and TSI to influence home appraisers to raise appraisal values to obtain higher loan values on their homes constituted a breach of contract and unconscionable inducement under the West Virginia Consumer Credit and Protection Act.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |