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CalAttorney2
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Category: Business Law
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Experience:  I am a businesses law attorney, with experience advising and representing owners and investors.
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Is my loan servicer a "fiduciary"?

Customer Question

Is my loan servicer a "fiduciary"?
Submitted: 8 months ago.
Category: Business Law
Expert:  CalAttorney2 replied 8 months ago.
Loan servicers are not generally considered to be fiduciaries, although there are some instances where lenders have been held to this standard.See generally: http://apps.americanbar.org/abastore/products/books/abstracts/5310344_chap1_abs.pdf for a discussion of the fiduciary relationship and associated liability.