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MATTER OF AM. MORTGAGE BANKING, LTD. v. CANESTRO

201 A.D.2d 407 (1994)

607 N.Y.S.2d 657

In the Matter of American Mortgage Banking, Ltd., Respondent, v. Arthur Canestro et al., Appellants, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, First Department.

February 22, 1994

The court properly dismissed the sixth affirmative defense to this foreclosure action since defendants' unsubstantiated allegations failed to establish that the loan was usurious (see, Indig v Finkelstein, 23 N.Y.2d 728) and since, in any event, plaintiff is exempt from the State's usury laws (12 USC § 1735f-7). As to the fourth affirmative defense the documents sufficiently...

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