Ross v. Continental Mortgage Investors

MEMORANDUM AND ORDER

R. BLAKE WEST, District Judge.

The defendant in this action, Continental Mortgage Investors (CMI), was the interim lender on a construction project. Plaintiff, Leonard M. Ross, was a subsequent purchaser of the project who presently seeks damages from CMI. This matter came before the Court on a motion for summary judgment filed by CMI. Thus, this case raises the rather unique issue of an interim finance lender’s liability to a sub sequent buyer of property and the type of duty, if any, which such a lender owes to the subsequent purchaser. The essential facts are not in…