Jacobson v. First Nat. Bank of Bloomingdale

Complainant Gerald F. Jacobson, through a concern known as the Mortgage Service Bureau, arranged with the defendant The First National Bank of Bloomingdale for a Federal Housing Administration loan in the amount of $5,800 for the purpose of erecting a house. Twenty per cent., or $1,160, was to be lent to complainant when the roof was on, thirty per cent., or $1,740, when the house was brown-plastered, and the balance when the house was completed. When the first portion of the loan was to be made, the bank, on July 24th, 1939, delivered its check to the order of "Geraldine F. and Adrienne O.…