U.S. 11th Circuit Affirms Class Certification in ‘Culpepper’ Analysis Looks to Legality of YSP Paid by Lender to Broker
July 2, 2001
The mortgage industry suffered a setback after a federal appeals court in Alabama affirmed class certification in a notable yield-spread premium case, Culpepper v. Irwin Mortgage. In its third significant action on Culpepper since 1998, the U.S. Appeals Court for the 11th Circuit on June 15 upheld class certification based on its interpretation of the Department