Commonwealth v. Fremont Investment & Loan
Supreme Judicial Court of Massachusetts
897 N.E.2d 548 (Mass. 2008)
Fremont Investment & Loan (Fremont) (defendant) initiated a number of subprime, adjusted rate mortgage loans to Massachusetts residents, most of which required an increase in payments after the first two or three years and required no down payment. Many of these loans ended up going into default and Fremont entered into an agreement with the Massachusetts Attorney General (plaintiff), agreeing to consult the Attorney General before foreclosing on any of the loans. The Attorney General ended up objecting to most of the foreclosures and brought a consumer protection enforcement action against Fremont, claiming that in issuing this series of subprime mortgages, Fremont acted unfairly and deceptively in violation of the Massachusetts consumer protection law. The Attorney General also filed this motion for injunctive relief. A judge in Massachusetts Superior Court granted a preliminary injunction restricting Fremont’s ability to foreclose on the loans in question. The injunction required that where the loan terms contained the four characteristics of unfair loans, Fremont seek alternatives to foreclosure, or else seek approval of the court. Fremont appealed.
Rule of Law
Holding and Reasoning (Botsford, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 174,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.