Aquaduct, L.L.C. v. Travis J. McElhenie and Wife, Lisa Christian McElhenie and North American Mortgage Company

CourtCourt of Appeals of Texas
DecidedSeptember 9, 2003
Docket14-02-00708-CV
StatusPublished

This text of Aquaduct, L.L.C. v. Travis J. McElhenie and Wife, Lisa Christian McElhenie and North American Mortgage Company (Aquaduct, L.L.C. v. Travis J. McElhenie and Wife, Lisa Christian McElhenie and North American Mortgage Company) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Aquaduct, L.L.C. v. Travis J. McElhenie and Wife, Lisa Christian McElhenie and North American Mortgage Company, (Tex. Ct. App. 2003).

Opinion

Affirmed and Opinion filed September 9, 2003

Affirmed and Opinion filed September 9, 2003.

In The

Fourteenth Court of Appeals

____________

NO. 14-02-00708-CV

AQUADUCT, L.L.C., Appellant

V.

TRAVIS J. McELHENIE AND WIFE, LISA CHRISTIAN McELHENIE,

AND NORTH AMERICAN MORTGAGE COMPANY, Appellees

__________________________________________________________________

On Appeal from the 190th District Court

Harris County, Texas

Trial Court Cause No. 00-43229

__________________________________________________________________

O P I N I O N

            Appellant Aquaduct, L.L.C. challenges the trial court’s finding that it authorized its loan servicing agent to receive full payment of a mortgage note and the trial court’s award of attorney’s fees to appellee, North American Mortgage Company.  We affirm.



                              I.  Procedural and Factual Background

            In November 1996, Travis McElhenie and Linda Christian (“the McElhenies”)[1] executed a promissory note for $28,045.22 in favor of Millennium Interests, Ltd. (“the McElhenie Note”) to purchase a homestead.  The McElhenie Note required the McElhenies, as mortgagors, to repay Millennium Interests, as mortgagee, “both principal and interest” at 10% annually in “360 monthly principal and interest installments of $216.12 per month,” and a tax escrow fee of $15 per month.  The first installment was due on November 1, 1996, followed by successive installments payable on the first of each month “until the full amount of the consideration of principal and interest is paid.”  To secure this mortgage debt, the McElhenies signed a deed of trust (“the Millennium Deed”) that same month, granting Millennium Interests a vendor’s lien and a deed-of-trust lien in the property.  Millennium recorded this deed.  Neither the McElhenie Note nor the Millennium Deed established any penalty for early payment of the full amount owing on the mortgage debt.

            In April 1997, Millennium transferred the McElhenie Note to Aquaduct, L.L.C., together with the liens securing the McElhenies’ mortgage debt.[2]  The transfer of lien instrument instructed the Harris County clerk’s office to return the original transfer to Gibraltar Mortgage Corporation (“Gibraltar”) after filing.  Aquaduct appointed Gibraltar as its loan servicing agent and authorized Gibraltar to collect monthly payments from the McElhenies on the McElhenie Note.  As the loan servicing agent, Gibraltar collected principal and interest payments from the McElhenies, accounted for that money to Aquaduct each month, and forwarded the payments to Aquaduct each month. 

            In September 1998, the McElhenies refinanced their mortgage through National Mortgage Link, I Ltd. (“National Mortgage Link”) by renewing and extending the McElhenie Note.  To do so, the McElhenies executed a deed of trust naming National Mortgage Link as the beneficiary and a renewal and extension rider accompanying the deed of trust (“Renewed McElhenie Note”).  The deed of trust was recorded.  In refinancing their mortgage, the McElhenies agreed to pay National Mortgage $86,850, representing the amount they owed under the Renewed McElhenie Note.  To secure the Renewed McElhenie Note, the McElhenies encumbered their homestead with a lien in favor of National Mortgage Link.

            Old Republic Title Company (“Old Republic”) represented National Mortgage Link at the closing of this transaction.  At the closing, in a simultaneous transaction, National Mortgage Link assigned the Renewed McElhenie Note and the accompanying deed of trust lien to North American Mortgage Company (“North American”).  The deed was recorded.  Old Republic requested and obtained from Gibraltar a statement of the total remaining balance on the McElhenie Note.  A title insurance policy was also obtained and it revealed in part the lien Millennium assigned to Aquaduct.  To take a first lien position on the McElhenies’ homestead, National Mortgage Link and North American payed to Gibraltar the remaining balance on the McElhenie Note ($28,126.61) in September 1998.  Old Republic, acting on behalf of National Mortgage Link and North American, sent the check to Gibraltar and also asked Gibraltar to execute and return to Old

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Aquaduct, L.L.C. v. Travis J. McElhenie and Wife, Lisa Christian McElhenie and North American Mortgage Company, Counsel Stack Legal Research, https://law.counselstack.com/opinion/aquaduct-llc-v-travis-j-mcelhenie-and-wife-lisa-ch-texapp-2003.