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The POWER List 2023: R. Frederick Walters
Staff Report//August 10, 2023//
Walters Renwick Richards Skeens & Vaughan, Kansas City
Fred Walters has recovered hundreds of millions of dollars in improperly assessed fees under Missouri’s Second Mortgage Loan Act.
Under the law, lenders can assess a high interest rate for second-mortgage loans, but in return they cannot employ other charges, such as fees for loan discounts, underwriting, processing or document preparation.
Walters’ settlements include those in two suits in 2012 for $92 million and $68.3 million; a $36 million settlement in 2003; and $22.7 million in settlements for consumers in a long-running case that initially resulted in a $104 million jury verdict but was significantly reduced on appeal.
The POWER List: Commerial and Consumer Litigation 2023
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