Summary:
In this unpublished decision, the Fourth Circuit affirmed the dismissal of a putative class action brought by Paul French, who alleged that 21st Mortgage violated Maryland’s Credit Grantor Closed End Credit Provisions (“CLEC”) by retaining a 35% commission on force-placed insurance premiums. Although French paid only the regulator-approved insurance premium (with 21st Mortgage forwarding 65% to the underwriter), he argued the retained portion was an unlawful “fee” under Md. Code Ann., Com. Law § 12-1005(d)(1).