California Court of Appeal
Akopyan v. Wells Fargo Home Mortgage, Inc., B236455
Judgment of dismissal of class action complaints arising out of their home mortgage loans are affirmed, where: 1) the limitation on late payment charges in Business and Professions Code section 10242.5(b) applies to home mortgage loans negotiated by mortgage loan brokers, regardless of the exempt status under section 10133.1 of entities that funded and serviced the loans; and 2) plaintiff-borrowers' contract claims against defendant-federally regulated entities that serviced their loan for misapplying payments and charging late fees in violation of section 10242.5(b) which they claim is implied in their loans is preempted by the National Bank Act and the Home Owners Loan Act.
Appellate Information
- Decided 04/04/2013
- Published 04/04/2013
Judges
- EPSTEIN
Court
- California Court of Appeal