Obtained an important favorable ruling by the Connecticut Superior Court that struck down a claim for reformation of a mortgage based on fraud and clarified that under Connecticut law a broker is not the presumptive agent of a lender. The court held that borrowers seeking to avoid liability under a mortgage due to a mortgage broker’s actions bear the burden to prove that the broker was the agent of the mortgage owner. The ruling was important at a time when mortgage owners were losing assets as a consequence of promises made and actions taken by mortgage brokers selling subprime loans.
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