In a memorandum opinion, Rubin found that the plaintiffs adequately alleged a concrete financial injury by claiming they paid higher interest rates and fees tied to the lender’s alleged steering and compensation practices. “Although there appears to be a dearth of caselaw addressing higher interest rates as an injury stemming from steering due to violations of the LO Comp. Rule, federal courts routinely find allegations of higher interest rates based on lenders’ misconduct sufficient to allege an injury in fact at the pleading stage,” Rubin wrote. The borrowers claim loanDepot steered them into mortgages with higher interest rates and/or fees through this compensation structure. In June, borrowers had to change their representation amid questions of conflict of interest tied to the previous attorney.