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AFN, INC. v. SCHLOTT, INC.

Civ. A. No. 91-1646 (MTB).

798 F.Supp. 219 (1992)

AFN, INC. d/b/a American Financial Network, Plaintiff, v. SCHLOTT, INC., National Homenet, Inc., Home Mortgage Network, Inc., Matthew Broderick, PHH U.S. Mortgage Corp., Cenlar Federal Savings Bank, Evergreen Mortgage Corp., Home Investors Mortgage Corp., and Merit Financial Corp., Defendants.

United States District Court, D. New Jersey.

July 14, 1992.

Attorney(s) appearing for the Case

Feldman Gold & Wachtel by John H. Reichman, West Orange, N.J., for plaintiff.

Hogan and Palace by Michael R. Scully, Hackensack, N.J., for defendants Schlott, Inc., Nat. Homenet, Inc., Home Mortg. Network, Inc. and Matthew Broderick.

OPINION

BARRY, District Judge.

I. Introduction

The present action is one of a number of actions between AFN, Inc. ("AFN") and Schlott, Inc. arising out of the business relationship between those parties relating to computerized loan origination ("CLO") systems. Defendants Schlott, Inc., National Homenet, Inc., Home Mortgage Network, Inc. and Matthew Broderick have moved to dismiss AFN's complaint for failure to state a claim upon which relief can...

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