Morris Plan Banking Co. v. McDonald

6 Mass. App. Div. 156
CourtMassachusetts District Court, Appellate Division
DecidedJanuary 16, 1941
StatusPublished

This text of 6 Mass. App. Div. 156 (Morris Plan Banking Co. v. McDonald) is published on Counsel Stack Legal Research, covering Massachusetts District Court, Appellate Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Morris Plan Banking Co. v. McDonald, 6 Mass. App. Div. 156 (Mass. Ct. App. 1941).

Opinion

Keniston, J.

This is an appeal from the finding for the plaintiff upon a written contract of insurance. The case was submitted upon an agreed statement of facts and the question raised is whether the finding was proper under Regulation No. .15 of the National Housing Act which appears in the Memorandum of the Court’s finding and was in effect and applicable to the right of the plaintiff to recover.

The note, for which reimbursement is sought under the insurance contract, was dated December 18, 1934, was for $339.19 and was payable in thirty-five successive monthly payments of $9.44 each, beginning one month from the date of the. note and a final payment of $8.79 thirty-six [157]*157months from the date of the note. The note contained the following clause: “Upon default continuing for fifteen days in the payment of any instalment when due under said Loan Agreement . . . , the whole amount of this note shall become due and payable forthwith; after any default, the Company may make any arrangement with any of the undersigned for the payment of this note without same being regarded as a waiver or alteration of any of the terms hereof”.

The makers of the note made the following payments: March 6, 1935 — $18.88; May 11, 1935 — $9.44; June 5, 1935 —$9.44; November 7, 1935 — $9.44; December 6, 1935— $9.44; January 9, 1936 — $9.44; March 9, 1936 — $9.44; May 6, 1936 — $9.44, making a total of $84.96.

Under date of December 11, 1936 the plaintiff prepared a proof of claim on Form FHE-7 (Revised), for reimbursement, and forwarded the same to the Federal Housing Administrator at Washington. This proof of claim was made out on the proper form, was accompanied by the required papers and gave the information required. Under the item in the proof of claim asking for the “Date of default (date of earliest instalment for which payment has not been received)” was filled in “October 18, 1935” and the proof of claim gave a full statement of the dates when payments were due on the note and the dates when payments were made and the amounts thereof. Under date of January 28, 1937 this application for reimbursement was disapproved by the defendant and returned to the plaintiff. Under date of February 1, 1937 the plaintiff returned to the defendant the claim for reimbursement with the papers as previously filed, the only change from the proof of claim as previously filed being that in answer [158]*158to the item for the “Date of default (date of earliest instalment for which full payment has not been received) ” there was added in parenthesis after the date, “October 18, 1935,” “(January 18, 1935 under the terms of the note — this claim is filed under Reg. 15).”

The court filed the following ‘ ‘ Memorandum ’ ’:

“Regulation No. 15 of the Contract of Insurance involved in this case provides:
‘ Claim for reimbursement for loss on a qualified note may be made to the Federal Housing Administration at any time after payment on such note has been in default for a period of 60 days. If within the first year after default the borrower has not made payments on his obligation aggregating at least 10% of the balance due on the date of default, claim must be made within 30 days thereafter. If in any subsequent six-month period the borrower has not made payments aggregating at least 5% of the unpaid balance as of the beginning of such period, claim must be made within 30 days thereafter. ’ ”

The note involved in this case is dated December 18, 1934. It is payable in 35 successive equal monthly instalments of $9.44 each, beginning one month after date and a final payment of $8.79, 36 months after date.

The borrowers never paid the instalments when due but between January 18, 1935 and May 6, 1936 made one payment of $18.88 and seven payments of $9.44 each, aggregating the sum of $89.96. The plaintiff applied these payments to the monthly instalments in the order in which they became due, and as a result of this application all instalments up to and including the one due September 18, 1935 were paid before the plaintiff filed its claim against the defendant for reimbursement.

[159]*159Buling: In establishing the date of default the plaintiff is bound by the application of said payments.

Accordingly, on the date when the plaintiff filed its claims against the defendant for reimbursement, as hereinafter set forth, October 18, 1935 was the date of default and the date of the earliest instalment for which full payment had not then been received.

The amount of the borrowers’ obligation on October 18, 1935, was the sum of $301.43. During the year following October 18, 1935, or between that date and October 18, 1936, the borrowers paid the sum of $47.20 which was at least, and more than, 10% of the unpaid balance of said note as of October 18, 1935.

Buling: The plaintiff was not obliged to file its claim against the defendant for reimbursement within one year and 30 days after October 18, 1935.

The plaintiff filed its claim against the defendant for reimbursement on or about December 15, 1936 and stated therein that October 18, 1935 was the date of default and the date of the earliest instalment for which full payment had not been received. On or about January 28, 1937 the defendant disapproved this claim and on or about February 1st, 1937 the plaintiff filed an amended claim against the defendant for reimbursement and in answer to question (1) relating to the date of default and date of earliest instalment for which full payment had not been received stated as follows: ‘October 18, 1935. (Jan. 18, 1935 under the terms of the note — this claim is filed under Beg. 15) and the defendant refused to pay the amount of said claim.

Both said claims were filed after the default in payment by the borrowers had continued for more than 60 days and before -the expiration of six months and 30 days [160]*160after October 18, 1936. Ruling: The plaintiff is entitled to reimbursement from the defendant.”

The court found for the plaintiff on its declaration.

There was no error in the finding of the court. The plaintiff was entitled to recover under the provisions of Regulation No. 15. On the date that the claim for reimbursement was filed, payment on the note had been in default for more than 60 days. The payments made had been applied by the plaintiff to the instalments on the note in the order that they became due. The plaintiff could apply these payments as it saw fit in the absence of instructions from the makers to apply the payments otherwise. Tudor Press, Inc. v. Universal Distributing Co., 292 Mass. 339; Henry Bill Publishing Co. v. Utley, 155 Mass. 366.

To apply these payments to the instalments in the order that they became due, was the natural and proper application. During the year following October 18, 1935 (the “date of earliest installment for which full payment had not been received”) the makers of the note made five payments of $9.44 each or a total of $47.20, which total was more than 10% of the unpaid balance of the note. The plaintiff, therefore, under the terms of Regulation 15 was not obliged to file its claim for reimbursement within one year and thirty days after October 18, 1935, but was required to file its claim within six months and thirty days after October 18, 1936.

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Related

Henry Bill Publishing Co. v. Utley
29 N.E. 635 (Massachusetts Supreme Judicial Court, 1892)
Tudor Press, Inc. v. University Distributing Co.
198 N.E. 244 (Massachusetts Supreme Judicial Court, 1935)

Cite This Page — Counsel Stack

Bluebook (online)
6 Mass. App. Div. 156, Counsel Stack Legal Research, https://law.counselstack.com/opinion/morris-plan-banking-co-v-mcdonald-massdistctapp-1941.