Schriener v. Quicken Loans, Inc., No. 13-1367 (8th Cir. 2014)
Annotate this CaseIn 2011, Schriener obtained a residential mortgage from Quicken Loans that was secured by a deed of trust. Quicken Loans acquired the deed of trust that the parties used from Wolters Kluwer Financial Services, Inc. for a fee. Quicken Loans assisted Wolters Kluwer in preparing the deed of trust by providing necessary information. The deed of trust, however, was not written or reviewed by an attorney licensed to practice law in Missouri. In connection with Schriener’s residential mortgage, Quicken Loans charged him an “origination charge” of $575.00 and “adjusted origination charges” of $1,705.63. These charges are reflected on the parties’ HUD-1 settlement statement. The HUD-1 did not list a fee for the preparation of the deed of trust. Schriener filed a putative class action, alleging that Quicken Loans improperly engaged in law business under Mo. Rev. Stat. 484.020; violated the Missouri Merchandising Practices Act, Mo. Rev. Stat. 407.010; and was unjustly enriched. The district court dismissed for failure to state a claim. The Eighth Circuit affirmed, based on Shriener’s concession that Quicken did not charge him for the deed of trust.
Court Description: Civil case - Missouri Merchandising Practices Act. Where defendant charged no fee for the preparation of a deed of trust, it did not, under Missouri law, engage in the law business; plaintiff's concession that defendant did not charge him also undermines his unjust-enrichment claim and his claim that defendant violated the Missouri Merchandising Practices Act; no error in denying motion to alter or amend the judgment as plaintiff's proposed amendments to his complaint would have been futile.
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