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STUBBS v. SECURITY CONSUMER DISCOUNT COMPANY

161 N.J. Super. 129 (1978)

390 A.2d 1224

GUSSIE LEE STUBBS, FLORENCE STEVENSON AND FANNIE M. DOSS, ON BEHALF OF THEMSELVES AND ALL OTHERS SIMILARLY SITUATED, PLAINTIFFS, v. SECURITY CONSUMER DISCOUNT COMPANY, A PENNSYLVANIA CORPORATION, KENBEE MORTGAGE COMPANY, A NEW JERSEY CORPORATION, LEONARD MOONBLATT, ROBERT HUBER, ROBERT L. MALATESTA, ADMINISTRATOR OF THE ESTATE OF LOUIS J. MALATESTA, DECEASED, AND FIDELITY BANK, A PENNSYLVANIA CORPORATION, DEFENDANTS.

Superior Court of New Jersey, Law Division.

Decided April 24, 1978.

Attorney(s) appearing for the Case

Mr. Kenneth E. Meiser for plaintiffs (Mr. Stanley C. Van Ness, Public Advocate, attorney).

Mr. George F. Kugler, Jr. for defendants Kenbee Mortgage Company and Fidelity Bank (Archer, Greiner & Read, attorneys; Mr. Robert G. Harbeson on the brief).

Mr. Charles Crabbe Thomas for defendant Leonard Moonblatt.

ROSSETTI, J.C.C. (temporarily assigned).

This is a class action which arises out of numerous secondary mortgages obtained from New Jersey homeowners by Security Consumer Discount Company (Security), a now defunct secondary mortgage company. The plaintiff class is seeking to set aside these mortgages, alleging that they were executed in violation of the New Jersey Secondary Mortgage Loan Act, N.J.S.A. 17:11A-34 et seq.

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