Legal Opinion
Easter v. American West Financial
Court of Appeals for the Ninth Circuit
Decided August 31, 2004No. 03-35041PublishedCited by 16 opinions
1Opinion of the Court
BEA, Circuit Judge:
I. Introduction
Washington’s usury statute prohibits ordinary lenders from making loans bearing interest rates in excess of 12%. WASH. REV. CODE § 19.52.020. However, Washington’s Consumer Loan Act (CLA) permits licensed lenders to charge interest rates up to 25% to borrowers with less than perfect credit. WASH. REV. CODE §§ 31.04.005, 31.04.035, 31.04.105. Washington also limits by statute the amount of origination fees a lender may charge. WASH. REV. CODE §§ 19.52.020, 31.04.035.
In the second-mortgage market, the identity of the actual lender is not always clear. This case…
2Cases cited26 opinions
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3Cited by16 opinions
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