First Federal Savings & Loan Ass'n v. Lockwood

HOBSON, Acting Chief Judge.

Appellant First Federal Savings and Loan Association of Englewood (First Federal) appeals a final summary judgment in a mortgage foreclosure action entered in favor of appellees Stephen H. Lockwood and Robert F. Murphy. The judgment denied appellant the right to foreclose its mortgage “for failure ... to allege and prove any impairment of its security resulting from [Lockwood’s violation of the due-on-sale provision of the mortgage instrument].” The judgment further held that federal regulations which purport to divest the state court of its equitable jurisdiction…