CLAIM THAT LENDER VIOLATED UCL IN DISCLOSURES ON HUD-1 SETTLEMENT STATEMENT STATED A CLAIM AND WAS NOT PREEMPTED
Question: Does a lender violate the unfair competition law by disclosing, on a HUD-1 Settlement Statement, the costs it charged home loan borrowers, as opposed to the actual costs it incurred?
Answer: Yes, according to the Court of Appeal in McKell v. Washington Mutual, Inc., 06 C.D.O.S. 8836 (Sept. 18, 2006).
Continue Reading Questions & commentsPAYMENT STREAMS STRIPPED FROM EQUIPMENT LEASES ARE "PAYMENT INTANGIBLES"
Question: Are payment streams stripped from bundled equipment leases chattel paper or "payment intangibles" eligible for automatic perfection?
Answer: Payment intangibles, according to the Bankruptcy Appellate Panel (Ninth Circuit) in In re Commercial Money Center, Inc., 06 C.D.O.S. 8391 (Aug. 25, 2006).
Continue Reading Questions & comments