Firstar Bank Ames v. Poston

CADY, Judge.

The receiver in a mortgage foreclosure proceeding appeals a district court’s order requiring her to reimburse fees received in excess of $1,500 a month and voiding a contract she entered into with a professional management company. Our review of this equitable proceeding is de novo. Iowa R.App. P. 4. We affirm.

I. Factual Background

On March 29, 1994, Firstar Bank Ames (“Firstar”) filed a petition to foreclose a mortgage executed by the defendants, Perry and Jayne Poston and Charles and Marie Andrea, on the Ames Motor Lodge. Jill Schwartz, doing business as Schwartz’s Systems…