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Couple files business litigation against mortgage lender

These days, it may not surprise anyone in New Jersey that a couple would file a lawsuit against their mortgage lender. However, the reason for one recent business litigation may be a bit unusual. According to the couple, the bank forced the new mom to go back to work before her maternity leave was up.

The bank preapproved the couple for a mortgage loan on Jan. 17, 2013. Based on that, the couple found a home. However, on Feb. 12, 2013, the bank declined to close the loan unless the wife went back to work. The woman had six-and-a-half weeks of maternity leave left.

The couple contends that the bank was concerned she would never return to work. They were issued what they call an "ultimatum" even though they had excellent credit and saved enough money for the payments. Instead, they had to pay the sellers to wait to close until late in March last year, after the mother went back to work on March 1 in order to provide the bank with a paystub to document she was working again before the closing.

The couple filed the business litigation claim for an unspecified amount of damages from the bank because she was denied the additional time with her baby. It will be up to the courts to determine whether the allegations made by this couple have merit. Over the past few years, mortgage lenders have been accused of many things when it comes to mortgage practices, and New Jersey parents may be interested to see how this case ends.

Source: thedailyjournal.com, Suit: No bank loan till woman ends maternity leave, Jim Walsh, Dec. 30, 2013

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