September 21, 2006 | Posted By Sheppard Mullin | permalink
print this article

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 & comments
September 12, 2006 | Posted By Sheppard Mullin | permalink
print this article

Payment 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