Judge Prohibits Fremont From Unloading Massachusetts Loans Without Buyer Consent To Abide By Court Mandate

In Massachusetts, the Boston Business Journal reports:

• Massachusetts Attorney General Martha Coakley's office said Tuesday it has obtained an expanded preliminary injunction order against California-based Fremont Investment & Loan. [...] The expanded injunction prohibits Fremont from assigning or selling Mass. loans owned by Fremont, or the servicing obligations on those loans, unless the buyer agrees in writing to be bound by the obligations set forth in a preliminary injunction, which was issued February 25.

Coakley reportedly said, "This decision reflects that lenders cannot escape responsibility for their illegal conduct and contribution to the foreclosure crisis simply by selling off their loans or servicing rights." For more, see Mass. AG gets expanded injunction against subprime lender Fremont.

See also:

• Massachusetts AG press release - Attorney General Martha Coakley Obtains Expanded Preliminary Injunction Against Subprime Lnder Fremont Investment And Loan,
• Court Order Modifying Preliminary Injunction,
• Preliminary Injunction: Commonwealth of Massachusetts v. Fremont Investment & Loan.