Carroll v. Fremont Investment & Loan

636 F. Supp. 2d 41 (2009)

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Carroll v. Fremont Investment & Loan

United States District Court for the District of Columbia
636 F. Supp. 2d 41 (2009)

AR

Facts

Robert Carroll (plaintiff) refinanced his home with Premier Mortgage Solutions, Services, Inc., which brokered the loan on behalf of Fremont Investment & Loan (defendant). Carroll gave Premier information regarding his income, assets, and the worth of his home for the application. However, Premier vastly overstated Carroll’s wealth and the home’s worth. Fremont gave Carroll the loan, but he could not afford the payments. Carroll sued, arguing that Fremont and Premier committed fraud by exaggerating Carroll’s assets and ability to pay and that Carroll would not have taken the loan had he known and understood its terms. Fremont moved to dismiss Carroll’s claim, arguing that he had not pleaded fraud with sufficient particularity in his complaint.

Rule of Law

Issue

Holding and Reasoning (Kennedy, J.)

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