58.18 PRIVATE RIGHT OF ACTION.
Subdivision 1. Remedies.
A borrower injured by a violation of the standards, duties,
prohibitions, or requirements of sections
shall have a private
right of action and the court shall award:
(1) actual, incidental, and consequential damages;
(2) statutory damages equal to the amount of all lender fees included in the amount of the
principal of the residential mortgage loan as defined in section
(3) punitive damages if appropriate, and as provided in sections
(4) court costs and reasonable attorney fees.
Subd. 2. Private attorney general statute.
A borrower injured by a violation of the
standards, duties, prohibitions, or requirements of sections
also may bring an action under section
. A private right of action by a borrower under this
chapter is in the public interest.
Subd. 3. Remedies cumulative.
The remedies provided in this section are cumulative and do
not restrict any other right or remedy otherwise available to the borrower.
Subd. 4. Exemption.
This section does not apply to a residential mortgage loan originated
by a federal or state chartered bank, savings bank, or credit union.
History: 2007 c 74 s 5