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Ohio Attorney General Mike DeWine
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Plaintiff was refinancing her home and requested a payoff statement from Defendant. The payoff statement indicated that the amount was good through September 1, 2006; Plaintiff closed on her refinancing on July 31, 2006 and sent the full amount shown on the payoff statement. She later received a refund of the excess interest paid. Plaintiff filed suit alleging that CitiMortgage violated the CSPA by requiring consumers to pay interest and fees in excess of what was actually owed. The Court granted the Defendant's motion to dismiss, finding that the clear language of the payoff statement contradicted the allegations of Plaintiff's complaint. The payoff statement said that the amount shown was good through September 1, stated that the amount may change due to account activity, and provided information regarding the daily interest rate and daily interest charge. The payoff statement also directed the Plaintiff to call to confirm the correct payoff amount before sending any money and stated that any escrow funds or excess payoff amounts would be refunded within 30 days. The Court found that statement provided clear evidence to refute Plaintiff's claims that Defendant regularly required consumers to pay excess interest and fees and dismissed the complaint with prejudice.
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| © 2009 Ohio Attorney General Richard Cordray