American Fletcher Mortgage Company, Inc. v. Cousins Mortgage and Equity Investments

CUDAHY, Circuit Judge.

Plaintiff, American Fletcher Mortgage Company, Inc. (the “Mortgage Company”), a mortgage brokerage concern, brought this action against Cousins Mortgage and Equity Investments (“Cousins”) seeking a declaratory judgment that the Mortgage Company had complied with the terms of the parties’ participation agreement (as amended). Cousins counterclaimed for damages resulting from the Mortgage Company’s alleged breach of the participation agreement and the fiduciary duty it owed to Cousins.

Through the participation agreement, dated June 12, 1973, between the Mortgage Company…