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State Courts -
Alabama - September 2, 2005
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Goldome Credit Corp. v. Burke, 1021072,
SUPREME COURT OF ALABAMA, September 2, 2005, Released
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Overview: A creditor's yield spread premium not charged to or collected from a debtor, under a contract, but paid by a creditor to the creditor's assignor, was not "points," subject to a five percent limit in former Ala. Code § 5-19-4(g), and that limit was not exceeded. A broker was not a creditor, under § 5-19-4(g), so her fee did not constitute "points."
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