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Rebuttal. As to the Tullie case, Kassakhian said Cash Cow relied on a software program that did not accurately calculate the interest rate of the loans.
Since Ms. Tullie filed the lawsuit, Quick Cash stopped charging the 25 loan fee, he said. Anybody can file a lawsuit whether it has merit or not, Kassakhian said. No court decision has been made regarding the Tullie class action case.
These limits vary by real estate market. Expensive real estate markets like Los Angeles and San Francisco have higher loan limits. Jumbo mortgage. A jumbo mortgage is one that exceeds loan limits set by the FHA. In most markets, a jumbo loan is one that exceeds roughly 400,000.
However, in expensive markets like New York City and San Francisco, the limits are higher; in these markets, a jumbo loan is one that exceeds roughly 600,000. Jumbo loans usually require higher down-payments and excellent credit.