Lender Liability and Help from a Litigation Support Specialist

A litigation support specialist can provide key insight and knowledge in topics that an attorney and their legal team do not have ready access to. They can assist in building cases and providing expert testimony in court. In matters related to financial law, these support specialists can also cover topics related to lender liability.

Lender liability is a substantive body of law which first gained prominence in the 1980s. As its name would suggest, laws related to lender liability are meant to protect borrowers. In other words, lenders and the institutions they represent must treat borrowers fairly. If they fail to do so, then they may be subject to a variety of legal claims.

One way to view loan agreements is that they function much like contracts. While the lender may set the majority of the terms, the borrower must also consent to them. At the same time, both parties are responsible for holding up their respective ends of the contract. When there is a breach, either party may sue. In many cases, the borrowers in a loan agreement can sue lenders on the grounds of fraud.

When building a case for lender liability, it is up to the attorney and their legal team to support their clients. They have tools and resources at their disposal. One strategy is to hire a litigation support specialist who specializes in finance. The litigation support specialist can utilize their knowledge of loan agreements to determine if the lender engaged in a fraudulent practice.

As many lenders may utilize a written contract as evidence that they did nothing wrong, the support specialist can use their breadth of knowledge and experience to disprove those claims. For instance, the support specialist can study a borrower’s transaction history to find discrepancies.

While a litigation support specialist cannot provide legal advice, they are nonetheless valuable assets to a legal team. They can leverage their skills to help attorneys protect the rights of borrowers.