Mass. Hous. Fin. Agency v. WHITNEY HOUSE ASSOC

37 Mass. App. Ct. 238 (1994)

638 N.E.2d 1378

MASSACHUSETTS HOUSING FINANCE AGENCY

vs.

WHITNEY HOUSE ASSOCIATES & others.[1]

No. 93-P-1123.

Appeals Court of Massachusetts, Suffolk.

May 13, 1994.

September 2, 1994.

Present: DREBEN, KASS, & FINE, JJ.

Paul W. Shaw for the plaintiff.

Thomas P. Callaghan, Jr., for the defendants.

KASS, J.

We are to decide whether a condition placed by the Massachusetts Housing Finance Agency (MHFA) on the extension of a loan commitment, that the borrower reimburse the MHFA for arbitrage losses, was enforceable. The question was submitted on the MHFA's motion for summary…