Madsen v. Washington Mutual Bank FSB

DURRANT, Associate Chief Justice:

INTRODUCTION

T1 In 1964, Richard and Naney Madsen financed the purchase of their home by borrowing money from Prudential Federal Savings and Loan Association ("Prudential") under a real estate mortgage contract. The contract obligated the Madsens to make monthly payments into an account held by Prudential for the purpose of paying taxes and insurance premiums. - Prudential paid no interest or earnings on the running account balance. The Madsens sued, seeking interest on their account. This case requires us to decide whether the Madsens may recover, on a common…