Washington National Building & Loan Ass'n v. Andrews

This is an appeal from an order of the Circuit Court for Anne Arundel County ratifying one and rejecting the other of two alternative auditor’s accounts which distributed the proceeds of land sold under a building association mortgage. Neither the validity of the mortgage nor the regularity of the sale is challenged. The sole dispute is over the distribution of the proceeds of sale the main question being whether the mortgage transaction was or was not usurious.

Account A, which was ratified, allowed the appellant as mortgagee only the amount loaned, with interest at six per cent less the sum…