MBAFB Federal Credit Union v. Jenrette

Lewis, Chief Justice:

Appeal is taken from a judgment of foreclosure entered upon a Master’s Report which denied appellant’s claim of usury. Both the trial judge and master-in-equity found the appellant’s defense of usury to be without merit. We affirm.

The appellant was granted two substantial loans by the respondent credit union which loans he secured by the mortgages at issue. There is no dispute concerning appellant’s default on the debt, but he asserts the defense of usury by way of counterclaim. In asserting usury, of course, appellant assumes the entire burden of proving that defense.…