Brett v. First Federal Savings & Loan Ass'n

INGRAHAM, Circuit Judge:

Plaintiffs-appellants brought this class action on behalf of themselves and other similarly situated homeowners against their respective mortgagees, the defendant savings and loan associations. Plaintiffs alleged that defendants entered into a conspiracy to illegally enforce unlawful “due on sale” clauses found in their deeds of trust, and that defendants conspired to refuse to allow any mortgagor to sell or convey the mortgaged property unless the new purchaser would agree to a renegotiation of interest rates under the loan. The complaint asserted that because…