408.231. Definitions. — 1. A "second mortgage loan" shall mean a loan secured in whole or in part by a lien upon any interest in residential real estate created by a security instrument, including a mortgage, trust deed, or other similar instrument or document, which provides for interest to be calculated at the rate allowed by the provisions of section 408.232, which residential real estate is subject to one or more prior mortgage loans.
2. "Principal" of a second mortgage loan means the total of the net amount paid to, receivable by, contracted for, or paid or payable for the account of the borrower, and to the extent payment is deferred, additional charges permitted by section 408.233.
3. "Residential real estate" shall mean any real estate used or intended to be used as a residence by not more than four families, notwithstanding the provisions of section 408.015.
Notes of Decisions
Mitchell v. Residential Funding Corp., 334 S.W.3d 477 (Mo. Ct. App. 2011).
· cites it 4× “236 provides that “[a]ny person violating the provisions of sections 408.231 to 408.241 shall be barred from recovery of any interest on the contract.”
Avila v. Cmty. Bank of Virginia, 143 S.W.3d 1 (Mo. Ct. App. 2003).
· cites it 3× “Richard and Dana Avila appeal the circuit court’s dismissal of their claims against Community Bank of Northern Virginia (“Community Bank”) and GMAC-Residential Funding Corporation (“GMAC”) for violations of the Second Mortgage Loan Act (“SMLA”), Section 408.231 et seq. 1 We…”
Michael D. v. GMAC Mortg., LLC, 763 F. Supp. 2d 1091 (W.D. Mo. 2011).
· cites it 3× “236 states that, *1102 Any person violating the provisions of sections 408.231 to 408.241 shall be barred from recovery of any interest on the contract, except where such violations occurred either: (1) As a result of an accidental and bona fide error of computation; or (2) As a…”
Schwartz v. Bann-Cor Mortg., 197 S.W.3d 168 (Mo. Ct. App. 2006).
· cites it 2× “At the time of these transactions, the making of second mortgage loans in the State of Missouri was regulated by section 408.231, et seq., RSMo 1994, the Second Mortgage Loan Act (“SMLA”).”
McLean v. First Horizon Home Loan, Corp., 369 S.W.3d 794 (Mo. Ct. App. 2012).
“The underlying litigation 'was filed by David and Holly McLean in the Circuit Court of Jackson County in November 2000 against First Horizon alleging violations of the Missouri’s Second Mortgage Loans Act, §§ 408.231 2 et seq. The circuit court subsequently certified the matter…”
Wong v. Bann-Cor Mortg., 878 F. Supp. 2d 989 (W.D. Mo. 2012).
· cites it 3× “§§ 408.231 et seq., alleging certain subordinate lien loans originated by BannCor Mortgage (“Bann-Cor”) and secured by Missouri real estate violate the MSMLA.”
Adkison v. First Plus Bank, 143 S.W.3d 29 (Mo. Ct. App. 2004).
· cites it 4× “The trial court granted summary judgment, concluding as a matter of law that plaintiffs had no cause of action under Missouri’s “Second Mortgage Loan Act,” (sections 408.231 to 408.241, RSMo 1994). We affirm.”
McLean v. First Horizon Home Loan Corp., 277 S.W.3d 872 (Mo. Ct. App. 2009).
· cites it 2× “McLean initiated the underlying litigation by filing a petition in the Circuit Court of Jackson County in November 2000, alleging violations of Missouri’s Second Mortgage Loans Act, §§ 408.231, RSMo 2000, et seq. 1 The circuit court certified the matter as a class action in…”
In Re Cmty. Bank of N. Virginia, 418 F.3d 277 (3rd Cir. 2005).
“In June 2001, it filed a class action suit in Jackson County, Missouri against CBNV and assignees, alleging violation of the Missouri Second Mortgage Loans Act (“MSMLA”), Mo.Rev.Stat. §§ 408.231, et seq. The Circuit Court of Jackson County granted defendants’ motion to dismiss…”
Wong v. Mortg., 918 F. Supp. 2d 941 (W.D. Mo. 2013).
· cites it 2× “§§ 408.231 et seq., alleging certain subordinate lien loans originated by BannCor Mortgage (“Bann-Cor”) and secured by Missouri real estate violate the MSMLA.”
Karen Peterson v. Mike Rothweiler (8th Cir. BAP 2001).
“See Mo. Rev. Stat. § 408.231 (2001). 5. Whether the bankruptcy court erred by not taking judicial notice of four unrelated bankruptcy case files at trial when requested to do so by the Petersons.”
Deanthony Thomas v. US Bank Nat'l Assoc. ND (8th Cir. 2009).
“Rich (collectively Thomas) brought claims in Missouri state court against a number of banks and lending institutions (collectively the lenders) alleging violations of the Missouri Second Mortgage Loans Act (MSMLA), Mo. Rev. Stat. §§ 408.231 -.241, arising out of loans originated…”
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