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California › Enforcement Actions › Borrowers

Sheppard Mullin Richter & Hampton LLP

DFPI Orders Mortgage Lender to Pay $2.3 Million for Per Diem Interest Overcharges

Sheppard Mullin Richter & Hampton LLP on

On August 18, the California Department of Financial Protection and Innovation (DFPI) announced a $2.3 million settlement with a former mortgage lender and servicer for alleged violations of the California Residential...more

Allen Matkins

Court Finds Failure To Obtain Finance Lenders' License Does Not Render Commercial Loan Unenforceable, Illegal Contracts

Allen Matkins on

The California Financing Law provides that “[n]o person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner.”   Cal. Fin. Code § 22100(a).  The CFL further provides...more

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