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Home » Store » News » Jury Holds Lehman Partly Responsible for First Alliance

Jury Holds Lehman Partly Responsible for First Alliance

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Companies that provide funding for subprime lenders got a chilling wakeup call this week, when a California jury ordered Lehman Brothers to pay $5.1 million for its dealings with bankrupt First Alliance Mortgage Corp. The jury verdict in Austin v. Lehman marks the first time a financial backer has been held liable in a predatory lending case, and it will likely add to the compliance woes of
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