STANDING (Mortgage Liability): Bankruptcy Court erred in ruling that Debtor had no standing to challenge Nationstar in the latter’s claim under her Deed of Trust. She showed constitutional & prudential standing through demonstrating (1) injury in fact (2) causation and (3) redressability as to her interest in the note, for the purpose of her adversary action against Nationstar. (In re Baroni [Ch.11], CA 9 BAP, filed 11/10/2015 [argued and submitted at Malibu, CA])
TRUTH IN LENDING: : If a consumer feels that the information in her credit file (i.e., information held by the credit reporting agency, but not necessarily sent to inquiring lenders or other agencies) is inaccurate, her ultimate remedy is to file a lawsuit pursuant to the Fair Credit Reporting Act, 15 U.S.C. Secs. 1681–1681x. To succeed in such a lawsuit, however, the Plaintiff will need to compile evidence. For example, the courts have held that “to state a claim under § 1681i [incorrect information in credit file], the plaintiff must show that the agency’s report contained factually inaccurate information, and that damages followed as a result.” Collins v. Experian Info. Sols., Inc., 775 F.3d 1330, 1335 (11th Cir. 2015) (“A `consumer report’ requires communication to a third party, while a `file’ does not.”); cited in Losch v. Nationstar Mortgage, LLC, 995 F.3d 937, 944 (Ninth Circuit, 2021). [Quotations reproduced as commentary.]
TRUTH IN LENDING: If a consumer feels that the information in her credit report (i.e., information actually sent to inquiring lenders or other agencies) is inaccurate, her ultimate remedy is to file a lawsuit pursuant to the Fair Credit Reporting Act, 15 U.S.C. Secs. 1681–1681x. To succeed in such a lawsuit, however, the Plaintiff will need to compile evidence. For example, the courts have held that “to state a claim under § 1681e [inaccurate report], the plaintiff must show that the agency’s report contained factually inaccurate information, that the procedures it took in preparing and distributing the report weren’t “reasonable,” and that damages followed as a result.” Cahlin v. General Motors Acceptance Corp., 936 F.2d 1151, 1157, 1160 (11th Cir. 1991); Nagle v. Experian Info. Sols., Inc., 297 F.3d 1305, 1307 (11th Cir. 2002). [Quotations reproduced as commentary.]
The Fair Credit Reporting Act, 15 U.S.C. Secs. 1681–1681x, is part of the Federal Consumer Protection Act. It is intended to protect consumers by assuring the accuracy of a consumer’s credit information held and disclosed by the credit reporting agencies. The statute allows a consumer to challenge information in his/her report that is allegedly inaccurate, and requires the credit reporting agencies to investigate alleged inaccuracies, and make corrections, if necessary.
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