AFFORDABLE COMMUNITIES OF MO. v. FED. NAT. MORTG.

No. 12-2334.

714 F.3d 1069 (2013)

AFFORDABLE COMMUNITIES OF MISSOURI, Plaintiff-Appellant v. FEDERAL NATIONAL MORTGAGE ASSOCIATION, a federally chartered corporation, Defendant-Appellee EF & A Capital Corporation; EF & A Funding LLC, Defendants.

United States Court of Appeals, Eighth Circuit.

Filed: May 9, 2013.


Attorney(s) appearing for the Case

Glenn Eugene Davis , argued, Saint Louis, MO, for Appellant.

John Gerard Young, Jr. , argued, Ryan A. Kemper , on the brief, Saint Louis, MO, for Appellee.

Before MURPHY, SMITH, and GRUENDER, Circuit Judges.


MURPHY, Circuit Judge.

Affordable Communities of Missouri purchased the Jefferson Arms Apartments, a senior independent living complex in St. Louis, Missouri, in 1993. In 1999 Affordable refinanced its debt on Jefferson Arms with a loan from Eichler, Fayne, and Associates (EFA) which would penalize Affordable if it voluntarily prepaid the debt. EFA sold the loan to Federal National Mortgage Association (Fannie Mae) but continued to service it. In 2005 the city of...

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