Colorado § 38-40-104 Cause of action - attorney fees

Colorado Statutes

§ 38-40-104 — Cause of action - attorney fees

Colorado·Title 38 Property -·Art. Mortgage Brokers - Lenders

(1)If any applicant or debtor is aggrieved by a violation of section 38-40-103, 38-40-103.5, or 38-40-106 and the violation is not remedied in a reasonable, timely, and good faith manner by the party obligated to do so, and after a good faith effort to resolve the dispute is made by the debtor or borrower, the debtor or borrower may bring an action in a court of competent jurisdiction for any such violation. If the court finds that actual damages have occurred, the court shall award to the debtor or borrower, in addition to actual damages, the amount of one thousand dollars, together with costs and reasonable attorney fees.

(2)A transferee of servicing or collection rights is not liable for any act or omission of the transferor of those rights under section 38-40-103 or 38-40-1

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(1) If any applicant or debtor is
aggrieved by a violation of section 38-40-103, 38-40-103.5, or 38-40-106 and the
violation is not remedied in a reasonable, timely, and good faith manner by the party
obligated to do so, and after a good faith effort to resolve the dispute is made by
the debtor or borrower, the debtor or borrower may bring an action in a court of
competent jurisdiction for any such violation. If the court finds that actual damages
have occurred, the court shall award to the debtor or borrower, in addition to actual
damages, the amount of one thousand dollars, together with costs and reasonable
attorney fees.

(2) A transferee of servicing or collection rights is not liable for any act or
omission of the transferor of those rights under section 38-40-103 or 38-40-103.5.

Colorado § 38-40-104 (Cause of action - attorney fees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 90: Entire article R&RE, p. 1681, � 4, effective October 1. L. 98: Entire section amended, p. 427, � 1, effective April 21. L. 2013: Entire section amended, (HB 13-1017), ch. 36, p. 104, � 2, effective March 15. L. 2024: (1) amended, (HB 24-1011), ch. 189, p. 1073, � 2, effective May 17. L. 2025: Entire section amended, (SB 25-300), ch. 428, p. 2455, � 54, effective August 6.