Texas Land & Mortg. Co. v. Mullican

McCORD, Circuit Judge.

On the former appeal we held that the question of usury and the determination of the balance due by the debtor on the loan should have been determined by the court after a hearing. Mullican v. Texas Land & Mortgage Co., 5 Cir., 117 F.2d 576; Id., *2425 Cir., 118 F.2d 560. After the mandate went down, the referee heard the evidence and found the claim of the creditor to be tainted with usury; that the amounts paid to the creditor as interest should be credited as payments on the principal; and that the interest payments aggregated more than the principal obligation and were…