PRIVATE RIGHT OF ACTION.

58.18 PRIVATE RIGHT OF ACTION. § Subdivision 1.Remedies. A borrower injured by a violation of the standards, duties, prohibitions, or requirements of sections 58.13, 58.136, 58.137, 58.16, and 58.161 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 58.137; (3) punitive damages if appropriate, and as provided in sections 549.191 and 549.20; and (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 58.13, 58.136, 58.137, 58.16, and 58.161 also may bring an action under section 8.31. 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; 2008 c 276 s 3,4