Lund v. Commonwealth Mortgage Assurance Co.

Blackburn, Judge.

Commonwealth Mortgage Assurance Company (Commonwealth) filed suit against James M. Lund III, seeking to recover the amount owed under an indemnity agreement executed by Lund in favor of Commonwealth.

Lund executed the agreement in issue on October 10, 1986, incident to a real estate closing on a home he purchased. In connection *323therewith Lund executed a promissory note and security deed in favor of Bankers First Mortgage Corporation (Bankers First). On the same date, Lund executed an Investor Loan Indemnity Agreement in favor of Commonwealth as consideration for its issuance…