Restitution - Savings and Loan Associations - Recovery by Home Mortgagers of Interest on Prepayments of Taxes and Insurance Premiums Held in Escrow Accounts in the Principle of Unjust Enrichment
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Authors
Mason, Jackie S.
Issue Date
1979
Volume
12
Issue
Type
Journal Article
Language
Keywords
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Abstract
INTRODUCTION|In a decision described by one publication as a result that"may shock the lending world," the Oregon Supreme Court in Derenco, Inc. v. Benjamin Franklin Federal Savings & Loan Association, became the first court of last resort to allow home mortgagors recovery of interest on prepayments of taxes and insurance premiums held by an institutional lender. The court, phrasing its judgment in terms of an equitable accounting based on the principle of unjust enrichment, ordered payment of interest at simple passbook rates on funds in escrow accounts held by the Benjamin Franklin Federal Savings and Loan Association for the years 1968 through 1975...
Description
Citation
12 Creighton L. Rev. 697 (1978-1979)
Publisher
Creighton University School of Law