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Two Recent Missouri State Court Decisions Rule for Borrowers in Wrongful Foreclosure Actions- Imposing Punitive Damages

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In Holm v. Wells Fargo and Freddie Mac, Missouri Court of Appeals, Western District No. 78666, the Missouri Court of Appeals addressed a wrongful residential foreclosure lawsuit. The Court of Appeals affirmed the judgment against Wells Fargo (servicer) which included $2,959,123 in punitive damages and $200,000 in emotional stress damages. The appellate court reversed the judgment regarding $89,762.30 awarded to the borrower concerning a claim for a post-foreclosure loss in value to the residence; $6,150 awarded to borrower for post-foreclosure repairs made by the borrower; and the award which had quieted title to the residence to the borrower (this aspect of the Court of Appeals’ decision revived Freddie Mac’s deed of trust).

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