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