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Irwin Mortgage Corp. is seeking help from the U.S. Supreme Court in fighting class certification in a yield-spread premium lawsuit.
The Indianapolis wholesale lender is contesting a decision by the 11th Circuit Court of Appeals that led to class certification in Culpepper v. Irwin.
The Atlanta Appeals Court has reviewed the Culpepper case three times over the past four years and last summer it ruled that allegations of paying referral fees in the form of YSPs can be addressed in a class-action lawsuit.
Irwin claims that the Appeals Court incorrectly interpreted a Department of Housing and Urban Development policy statement on YSPs in arriving at that decision.
And Irwin should be granted a rehearing before the appeals court since HUD has...