9th Circuit Finds SunTrust Failed To Convert Loan, Reverses Ruling

(March 2, 2018, 1:20 PM EST) -- SEATTLE — The Ninth Circuit U.S. Court of Appeals on March 1 reversed a district court’s grant of summary judgment for a bank in relation to a loan to build two homes, finding that the bank failed to convert a loan to permanent status pursuant to its agreement with the borrower and that triable issues of fact exist as to whether the bank honored an interest rate option (Marisa Spooner-Leduff v. SunTrust Mortgage Inc., No. 16-35038, 9th Cir., 2018 U.S. App. LEXIS 5252)....

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