CTX Mortgage Co. v. Advantage Builders of America, Inc.

WALLACE, Judge.

CTX Mortgage Company, LLC (the Lender), appeals a final judgment that awarded Advantage Builders of America, Inc. (the Builder), an equitable lien on undisbursed construction funds held by the Lender. When Kremlin Yee (the Owner) refused to proceed with a required end closing on the completed project, the Lender retained the final construction draw in accordance with the parties’ written agreement. Later, the Lender sold the residence that was the security for the construction loan and sustained a loss substantially exceeding the amount of the re-tainage. Because the parties’…