National Land Bank of Berkeley v. Warner, 292 U.S. 53 (1934). Federal Land-bank of Berkeley v. Warner
U.S. Supreme Courtroom
1. a stipulation in a Farm money home loan that, in the instance of complement to foreclose, the mortgagor shall shell out an inexpensive attorney’s fee getting attached from courtroom, was legitimate beneath Federal Farm money function if good under the state law. P. 292 U. S. 54 .
2. the goal of the Farm money operate should enable growers, by mortgaging the company’s places, to find loans at inexpensive, and that factor will be observed in identifying something a fair attorneys’s price in a foreclosure proceeding. P. 292 U. S. 57 .
Certiorari, 290 U.S. 620, to analyze the affirmance of a decree foreclosing a grazing money home loan when the trial court have refused to cause a stipulation for an attorney at law’s cost.
U.S. Supreme Court
Government Land Bank of Berkeley v. Warner
CERTIORARI INTO THE SUPERIOR COURT OF ILLINOIS
1. a stipulation in a ranch money finance that, in case of suit to foreclose, the mortgagor shall pay a fair lawyer’s costs to become set because of the the courtroom, was appropriate under the government grazing mortgage operate if legitimate underneath the state guiidelines. P. 292 U. S. 54 .
2. the goal of the ranch funding operate is always to help growers, by mortgaging his or her lands, to get debts at affordable price, so this objective is being observed in deciding something an inexpensive lawyer’s costs in a foreclosures proceeding. P. 292 U. S. 57 .
Certiorari, 290 U.S. 620, to analyze the affirmance of a decree foreclosing a ranch finance mortgage loan where demo judge experienced refused to apply an agreement for legal counsel’s charge.
MR. JUSTICE BUTLER delivered the opinion with the Court.
Participants gave petitioner home financing to their ranch countries in Illinois to lock in that loan of $7,200 built in accordance making use of the ranch Loan operate. [Footnote 1] The finance provides that, if there is complement to foreclose, the mortgagors shall shell out a fair lawyer’s charge being fixed because of the legal. And therefore stipulation is definitely appropriate under Illinois legislation. [Footnote 2] The customers possessing did not pay reported on their unique vow, petitioner brought this meet to seize the loan and prayed that a legal professional’s costs of $125 join the view. Participants objected on the allowance of any numbers on account of that piece, the demo the courtroom continuous the company’s contention, and so the supreme the courtroom maintained that a part of the decree upon the ground your assortment of this type of a fee was prohibited through the after an element of § 31: “No land bank . . . shall recharge or receive any price, commission, extra, surprise, as well as other factor not here especially authorized.” 12 U.S.C. § 983.
That structure should not be received. The function establishes assistance between customers on ranch residential loans and people through the alliance guaranteed by them. The necessity, through the loan supply, that a mortgagor shall keep the cost put upon the financial institution by his nonpayment happens to be realistic, as well as balance thereupon standard.
Inside absence of a plain phrase for that impact, it might not become conducted that meeting meant to put upon nondefaulting debtors any the main expense of foreclosure of loans created by other folks. The function doesn’t recommend legal proceeding for foreclosure, but shows that state laws and regulations should be oversee. Area 30 blows the land bank commissioner to examine the law of the State so you can document, on top of other things, whether, inside the opinion, these are typically for instance to safeguard against loss in case of default. 12 U.S.Code, § 971. It gives you that, if assessment shall show that the laws and regulations of any try not to pay for adequate safety, the grazing loans government may maintain loans on terrain as county ineligible. Code, § 972. As well petition involving this writ shows that, except in a few claims where regional rules prohibits such contracts, all of the loans used from the national Land Banking institutions incorporate conditions for lawyer’s prices for foreclosures. [Footnote 3] From this it would appear that officers billed by-law aided by the management for the banking companies usually interpreted the Act to permit state rules to manage. The interest is not called to virtually instance by which that building might asked. It is eligible to fantastic body weight. Us v. Mo. Pac. R. Co., 278 U. S. 269 , 278 U. S. 280 .