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Furthermore, the LCCL permits a loan provider to charge an origination cost on a customer loan or revolving loan account

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Furthermore, the LCCL permits a loan provider to charge an origination cost on a customer loan or revolving loan account

Since the plaintiffs’ loans would not fall inside the conditions regarding the LSLA or LDPA, the loans are at the mercy of the overall conditions for the LCCL. Plaintiffs contend that the mortgage finance fees, origination costs, and documents costs had been exorbitant and would not conform to the relevant statute. This Court disagrees. The LCCL limits loan finance costs or interest on customer loans as defined in В§ 3519(A). … Continue reading