Lenders Seek Toss Of 'Frivolous' $51M Mortgage Rates Case

By Rosie Manins (November 8, 2021, 6:17 PM EST) -- The lenders of $51 million in federally guaranteed mortgages for Georgia apartment complexes fought back Monday at borrowers' claims they improperly hid interest rate premiums, telling a Georgia state court to end the case.

Financial services group Orix USA LP and various subsidiaries asked the Georgia State-wide Business Court to grant summary judgment in their favor and reject the four corporate borrowers' claims of contract breach, fraud, racketeering and breach of fiduciary duty.

Counsel for the lenders explained during a six-hour hearing that the borrowers accepted and agreed to the terms of the loans, including maximum interest rates, which the lenders...

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