Price v. Nationstar Mortgage LLC

CourtDistrict Court, N.D. Illinois
DecidedApril 21, 2025
Docket1:23-cv-03042
StatusUnknown

This text of Price v. Nationstar Mortgage LLC (Price v. Nationstar Mortgage LLC) is published on Counsel Stack Legal Research, covering District Court, N.D. Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Price v. Nationstar Mortgage LLC, (N.D. Ill. 2025).

Opinion

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION

DERRIC PRICE ) ) Plaintiff, ) ) No. 1:23-CV-03042 ) v. ) ) Judge Edmond E. Chang ) NATIONSTAR MORTGAGE LLC, ) ) Defendant. )

MEMORANDUM OPINION AND ORDER

In February 2023, Derric Price entered an agreement to buy a condo in Chi- cago’s Lakeview neighborhood from Nationstar Mortgage. R. 26, Am. Compl. ¶¶ 8, 10, 14.1 Price paid an earnest money deposit to the escrow agent and obtained mort- gage financing. Id. ¶¶ 13, 16. But—for reasons that are not entirely clear—the pur- chase failed to close as scheduled. Id. ¶¶ 22–23, 25. Price filed this action pro se, seeking to compel Nationstar to complete the pur- chase agreement.2 See Am. Compl. Nationstar now moves to dismiss the complaint

1Citations to the record are “R.” followed by the docket entry number and, if needed, a page or paragraph number.

2This Court has diversity jurisdiction over this case. 28 U.S.C. § 1332(a). Specifically, Price is a citizen of Illinois. Am. Compl. ¶ 3. Nationstar is a citizen of Delaware and Texas because it is an LLC whose members are all wholly owned by Nationstar Mortgage Holdings, Inc., which is incorporated in Delaware and has its principal place of business in Texas. R. 34, Def.’s Supp. Corp. Disclosure Statement ¶¶ 2–3. The amount in controversy requirement is satisfied because Price seeks specific performance of the contract to purchase a condo worth around (based on the parties’ contract) $1,123,500, which readily exceeds the jurisdictional minimum. R. 44-1, Residential Purchase Agreement § 1(c). See BEM I, L.L.C. v. under Civil Rule 12(b)(6) for failure to adequately plead the claim, and requests an award of attorneys’ fees under the terms of the contract. R. 43, Def.’s Mot. Nation- star’s motion to dismiss is granted, but the request for attorneys’ fees need not be

decided right now. I. Background In considering a motion to dismiss, the Court accepts all well-pleaded factual allegations in the operative complaint as true. Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009) (quoting Bell Atl. Corp. v. Twombly, 550 U.S. 544, 570 (2007)). “We consider documents attached to the complaint as part of the complaint itself. Such documents may permit the court to determine that the plaintiff is not entitled to judgment.” Re-

ger Dev., LLC v. Nat’l City Bank, 592 F.3d 759, 764 (7th Cir. 2010), as amended (Dec. 16, 2010) (cleaned up).3 In February 2023, Derric Price entered an agreement to buy a condo in Chi- cago’s Lakeview neighborhood from Nationstar Mortgage. Am. Compl. ¶¶ 10, 14. The agreement provided, in relevant part, for establishing an escrow account in which Price would deposit earnest money, and then later deposit the full purchase price for

the condo before closing. Residential Purchase Agreement §§ 1, 3. But if the deal came

Anthropologie, Inc., 301 F.3d 548, 553 (7th Cir. 2002) (upholding jurisdiction over complaint for injunctive relief where the cost to the defendant would exceed the jurisdictional mini- mum).

3This Opinion uses (cleaned up) to indicate that internal quotation marks, alterations, and citations have been omitted from quotations. See Jack Metzler, Cleaning Up Quotations, 18 Journal of Appellate Practice and Process 143 (2017). 2 apart, the agreement provided that both parties waived all rights to sue for specific performance. Id. § 12(c). Also, the parties agreed to an “Auction Addendum,” which provides that the prevailing party is entitled to recover reasonable attorneys’ fees in

a suit over the purchase agreement. R. 44-1, Auction Addendum § 14. Price wired his earnest-money deposit to the escrow agent and obtained mort- gage financing Am. Compl. ¶¶ 13, 16. For reasons that are not entirely clear, the deal failed to close as scheduled. Id. ¶¶ 22–23, 25. Price says that he remains “ready, will- ing and able to close” the transaction. Id. ¶ 18. But the complaint does not say whether Price deposited the rest of the purchase price into the escrow account, as required by the contract to complete the transaction. See id.; Residential Purchase

Agreement § 3.B. Price appears to claim that the failed closing was related to the continued occupancy of the unit by a former owner or their tenants; he blames Na- tionstar for that problem. Am. Compl. ¶¶ 19–20. Price now seeks an order of specific performance to force the completion of the transaction. Id. ¶ 32. Nationstar moves to dismiss the complaint for failure to ade- quately state a claim, and seeks an award of attorneys’ fees. Def.’s Mot.

II. Legal Standard Under Federal Rule of Civil Procedure 8(a)(2), a complaint generally need only include “a short and plain statement of the claim showing that the pleader is entitled to relief.” Fed. R. Civ. P. 8(a)(2). This short and plain statement must “give the de- fendant fair notice of what the claim is and the grounds upon which it rests.” Twombly, 550 U.S. at 555 (cleaned up). The Seventh Circuit has explained that this 3 rule “reflects a liberal notice pleading regime, which is in-tended to focus litigation on the merits of a claim rather than on technicalities that might keep plaintiffs out of court.” Brooks v. Ross, 578 F.3d 574, 580 (7th Cir. 2009) (quoting Swierkiewicz v.

Sorema N.A., 534 U.S. 506, 514 (2002)) (cleaned up). “A motion under Rule 12(b)(6) challenges the sufficiency of the complaint to state a claim upon which relief may be granted.” Hallinan v. Fraternal Ord. of Police of Chi. Lodge No. 7, 570 F.3d 811, 820 (7th Cir. 2009). “[A] complaint must contain sufficient factual matter, accepted as true, to state a claim to relief that is plausible on its face.” Iqbal, 556 U.S. at 678 (cleaned up). These allegations “must be enough to raise a right to relief above the speculative level.” Twombly, 550 U.S. at 555. The

allegations that are entitled to the assumption of truth are those that are factual, rather than mere legal conclusions. Iqbal, 556 U.S. at 678–79. Because Price is a pro se litigant, the Court must construe the complaint expansively. Haines v. Kerner, 404 U.S. 519, 521 (1972). If there is an arguable basis for a claim in fact or law, then leave to proceed will be granted. Neitzke v. Williams, 490 U.S. 319, 325 (1989). III. Analysis A. Specific Performance

The only relief that Price seeks is specific performance of the contract to pur- chase the condo. Am. Compl. ¶¶ 1, 5. His complaint asserts no request for damages, nor any alternative relief. See Am. Compl. Price argues that he “stood at all times ready, willing, and able to perform his obligations under the contract,” but that Na- tionstar has refused to perform its portion of the agreement, so he is entitled to an 4 order for specific performance. Id. ¶¶ 6–7.

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Price v. Nationstar Mortgage LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/price-v-nationstar-mortgage-llc-ilnd-2025.