MCBB Wins Summary Judgment in Mortgage Loan Case

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On August 2, 2017, MCBB won partial summary judgment for its client, the Defendant in United Security Financial Corp. v. First Mariner Bank (D. Utah).  The case arose from the alleged sale of residential mortgage loans between the parties, with the Plaintiff claiming it had purchased certain loans and could impose certain fees pursuant to an agreement between the parties.  In a significant, published opinion by Judge Parrish of Utah’s Federal District Court, the Court held there was no such agreement, and therefore the Plaintiff wrongfully refused to return certain mortgage loans to the Defendant and attempted to impose fees it had no right to impose.  The Court granted judgment in favor of MCBB’s client on all of the Plaintiff’s claims, as well as certain of the Defendant’s counterclaims, and then set the remainder of the Defendant’s counterclaims for trial.  A full copy of the Court’s opinion may be reviewed at:  https://ecf.utd.uscourts.gov/cgi-bin/show_public_doc?214cv0066-104.