Minnesota § 58.18 PRIVATE RIGHT OF ACTION

Minnesota Statutes

§ 58.18 — PRIVATE RIGHT OF ACTION

Minnesota § 58.18

PartBANKING

Ch. 58MORTGAGE ORIGINATOR AND SERVICER LICENSING

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Bluebook

Minn. Stat. § 58.18 (2026).

Text

Subdivision 1.Remedies. A borrower injured by a violation of the standards, duties, prohibitions, or requirements of sections58.13,58.136,58.137,58.16, and58.161shall 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 section58.137;

(3)punitive damages if appropriate, and as provided in sections549.191and549.20; 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 sections58.13,58.136,58.137, 58.16, and58.161also may bring an action under section8.31. A p

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Subdivision 1.Remedies.
A borrower injured by a violation of the standards, duties, prohibitions, or requirements of sections58.13,58.136,58.137,58.16, and58.161shall 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 section58.137;
(3) punitive damages if appropriate, and as provided in sections549.191and549.20; 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 sections58.13,58.136,58.137, 58.16, and58.161also may bring an action under section8.31. 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.