Boyajian v. FinanceAmerica Corp. (In re Mandell)

DECISION

ARTHUR N. VOTOLATO, Jr., Bankruptcy Judge.

Heard on September 17, 1980 on the Trustee’s complaint against FinanceAmeri-ca, which alleges that the defendant violated the Rhode Island Secondary Mortgage Loans Act, R.I.Gen.Laws § 19-25.2-1 et seq., and asks that the loan in question be declared void.

The following discussion constitutes findings of fact and conclusions of law as required by Bankruptcy Rule 752.

In late 1976, the bankrupt, Herbert Man-dell, responded to a newspaper advertisement placed by one William J. McGovern, *963regarding a refinancing of his home mortgage, and McGovern…