Summary - The California Supreme Court denied review of the California 1st District Court of Appeal decision in Honchariw v. FJM Priv. Mortg. Fund, LLC, 83 Cal. App. 5th (.
In Honchariw v. FJM Private Mortgage Fund, California District Court held late fees assessed against the entire unpaid principal balance of a loan constitutes unlawful penalties under California Civil Code Section 1671 providing clarity on a lender’s ability to charge late fees.
The California Supreme Court recently declined to review a Court of Appeal opinion holding that under California law “liquidated damages in the form of a penalty assessed during the.
In Honchariw v. FJM Private Mortgage Fund, LLC, 83 Cal.App.5th 893 (Cal. Ct. App. 2022), the California Court of Appeal held that default interest and late fee charges are unlawful.
A recent decision out of the California First District Court of Appeal calls into question a lender’s ability to impose default interest after default but prior to maturity on a.