[JURIST] The US Supreme Court [official website] ruled [opinion, PDF] unanimously Monday in Robers v. United States [SCOTUSblog backgrounder] that the Mandatory Victims Restitution Act (MVRA) requires restitution calculation based upon the property a lender loses, not upon the collateral the lender receives. In 2005, petitioner Benjamin Robers submitted fraudulent loan applications seeking $470,000 for the purchase of two residences. The banks took mortgages on the homes, and, when Robers failed to repay, the banks foreclosed. The banks sold the...

More...