Borrowers Go After CWCapital In Mortgage Contract Suit

Law360, New York (February 13, 2012, 5:27 PM EST) -- A proposed class action accusing CWCapital LLC of asserting excessive authority in certain commercial mortgage financing agreements and forcing borrowers to waive their rights to a jury trial was removed to Texas federal court Friday.

Richard Aguilar, general partner of Texas-based borrower DT Apartment Group LP, says Massachusetts-based lender CWCapital made undue claims under the terms of their agreement in DT Apartment’s financing of the purchase of certain Dallas apartment complexes, and proceeded to assert “extreme control” over the property, allegedly mishandling funds from the tenants,...
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