Russell v. WADOT Capital Inc

CourtDistrict Court, W.D. Washington
DecidedJanuary 29, 2025
Docket2:22-cv-00531
StatusUnknown

This text of Russell v. WADOT Capital Inc (Russell v. WADOT Capital Inc) is published on Counsel Stack Legal Research, covering District Court, W.D. Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Russell v. WADOT Capital Inc, (W.D. Wash. 2025).

Opinion

1 2

3 4 5 6 7 UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON 8 AT SEATTLE

9 10 PATRIC RUSSELL, CASE NO. C22-0531JLR 11 Plaintiff, ORDER v. 12 WADOT CAPITAL, INC., et al., 13 Defendants. 14

15 I. INTRODUCTION 16 Before the court are motions for summary judgment filed by (1) Defendants Todd 17 Lindstrom Corporation (“Lindstrom Corp.”), Todd Lindstrom, and Tia Lindstrom 18 (together, the “Lindstrom Defendants”) (Lindstrom MSJ (Dkt. # 122); Lindstrom Reply 19 (Dkt. # 138)); and (2) Defendants National Capital Partners, d/b/a Capital Compete 20 (“NCP”), Jared Ekdahl, and Jane Doe Ekdahl (together with NCP, the “NCP 21 Defendants”) (NCP MSJ (Dkt. # 126); NCP Reply (Dkt. # 140)). Plaintiff Patric Russell, 22 as administrator and successor of the estate of deceased former Plaintiff Petra Russell, 1 opposes the motions (Lindstrom Resp. (Dkt. # 131); NCP Resp. (Dkt. # 135)) and moves 2 to strike portions of the Lindstrom Defendants’ reply (Lindstrom Surreply (Dkt. # 142)).

3 The court has considered the motions, the parties’ submissions, the relevant portions of 4 the record, and the governing law. Being fully advised,1 the court GRANTS the motions 5 for summary judgment. 6 II. BACKGROUND 7 This matter arises from two loans that Petra Russell—Mr. Russell’s mother and 8 the original plaintiff in this matter—obtained from Defendant WADOT Capital, Inc.

9 (“WADOT”) in 2018 and 2019. (See generally 3d Am. Compl. (Dkt. # 86).) Each loan 10 was secured by a deed of trust on a home Ms. Russell owned at 146 N. 83rd Street in the 11 Greenwood neighborhood of Seattle, Washington (the “Greenwood Property”). (Id.) 12 The court set forth the factual and procedural background of this matter in detail in its 13 October 9, 2024 order granting in part and denying in part the WADOT Defendants’2

14 motion for summary judgment. (10/9/24 Order (Dkt. # 111) at 2-17.) The court assumes 15 the reader is familiar with that order and therefore focuses below on the background 16 relevant to the motions now before it. 17 A. Factual Background 18 Mr. Ekdahl is the owner and principal of NCP, a private real estate loan broker

19 which does business under the tradename “Capital Compete.” (Ekdahl Decl. (Dkt. ## 95 20 1 No party requests oral argument and the court concludes that oral argument would not 21 assist it in its disposition of the motions. See Local Rules W.D. Wash. LCR 7(b)(4). 2 The WADOT Defendants are WADOT, Erik Egger, Nicole House, Michael White, 22 Steven White, HMJOINT, LLC (“HMJOINT”), Michele Chaffee, and Lisa Hallmon. 1 (sealed); 99 (redacted)) ¶ 2; Lindstrom Decl. (Dkt. # 97) ¶ 4.) Capital Compete deals 2 exclusively with business and commercial loans, including loans for residential properties

3 used for business or commercial purposes such as investment or rental. (Ekdahl Decl. 4 ¶ 3; Lindstrom Decl. ¶ 5.) It does not handle consumer loan transactions or 5 owner-occupied properties and is not licensed to do so. (Ekdahl Decl. ¶ 3; Lindstrom 6 Decl. ¶ 5.) Capital Compete receives a commission of between one and four percent of 7 loan proceeds when a loan is funded. (Ekdahl Decl. ¶ 4.) 8 Mr. Lindstrom is the owner, sole officer, and sole shareholder of Lindstrom Corp.

9 (Lindstrom Decl. ¶ 2.) Between March 2016 and February 2019, Lindstrom Corp. was 10 an independent contractor for Capital Compete. (Id. ¶¶ 6-7.) Mr. Lindstrom is not 11 licensed to broker consumer loans. (Id. ¶¶ 7, 19.) Below, unless otherwise specified, the 12 court refers to Mr. Lindstrom, Lindstrom Corp., Mr. Ekdahl, and NCP collectively as 13 “Capital Compete.”3

14 Ms. Lindstrom is Mr. Lindstrom’s wife. (Id. ¶ 3.) She has no ownership interest 15 in Lindstrom Corp. and no role in its management or operations. (Id.) She was not 16 personally involved in with NCP, Ms. Russell, or the loans at issue in this case. (Id.; see 17 generally 3d Am. Compl. (making no allegations regarding Ms. Lindstrom’s conduct).) 18

3 Mr. Russell argues that the court must deny the motions because there are disputes of 20 fact regarding “whether [Lindstrom Corp.] transacted business as NCP or [i]ndependently.” (See Lindstrom Resp. at 10-11; see generally NCP Resp. (arguing that “whether the subject actions 21 were ultimately done by the Lindstrom or NCP entity is a factual dispute”).) For the purpose of this order, the court assumes, but does not decide, that the Lindstrom Defendants and the NCP 22 Defendants can each be held responsible for the actions of the other. 1 1. Ms. Russell’s First Loan 2 In late 2017, Ms. Russell had filed a Chapter 13 bankruptcy petition and was

3 facing a January 12, 2018 foreclosure sale of the Greenwood Property. (Lindstrom Decl. 4 ¶ 17; see 10/9/24 Order at 2-6 (discussing events preceding Ms. Russell’s first loan).) On 5 November 7, 2017, Ms. Russell called Capital Compete and spoke with Mr. Lindstrom 6 and Mr. Ekdahl. (Ekdahl Decl. ¶ 5; see also 12/5/24 Patric Russell Decl. (Dkt. # 133) 7 ¶ 10.4) She explained that she needed an urgent cashout loan to pay off a judgment and 8 to make repairs to the Greenwood Property so that she could rent it out. (Ekdahl Decl.

9 ¶ 5.) The next day, Mr. Ekdahl emailed Ms. Russell a list of items Capital Compete 10 required to obtain pre-approval for her loan. (Id. ¶ 6, Ex. 1.) On November 10, 2017, 11 Ms. Russell provided Capital Compete a packet of documents relating to the Greenwood 12 Property and a home she owned at 635 NW 82nd Street in Seattle’s Ballard neighborhood 13 (the “Ballard Property”). (Id. ¶ 7, Ex. 2.) The packet included a document stating, with

14 respect to the Greenwood Property, “THIS ADDRESS NEEDED 4 WINDOWS 15 REPLACEMENT TO BE ABLE TO RENT IT OUT.” (Id. at 24.5) 16 17

18 4 Mr. Russell’s declaration and response briefs include numerous representations about statements Ms. Russell made to Mr. Lindstrom and Mr. Ekdahl and statements those Defendants 19 made to Ms. Russell. (See, e.g., 12/5/24 Patric Russell Decl. ¶¶ 11-14, 16-23; Lindstrom Resp. at 3-8.) As the court has held, such statements are inadmissible hearsay because Mr. Russell 20 lacks personal knowledge of the statements, seeks to admit them for the truth of the matters asserted therein, and no hearsay exception applies. (10/9/24 Order at 18-22.) The court does not 21 include inadmissible hearsay in its recitation of background facts. 5 The court refers to the page number in the CM/ECF header when citing exhibits to 22 declarations. 1 On November 11, 2017, Ms. Russell completed a loan application in which she 2 identified the Ballard Property as her “Present Address” and the Greenwood Property as

3 her “Former Address.” (Id. ¶ 8, Ex. 3 at 29.) On November 14, 2017, Ms. Russell 4 completed a request for a title report for the Greenwood Property in which she identified 5 her mailing address as the Ballard Property. (Id. ¶ 9, Ex. 4 at 42.) On November 15, 6 2017, Ms. Russell sent Mr. Ekdahl an email message in which she stated that the loan 7 was “need[ed] to repair the house” and explained that after she paid $250,000 in 8 attorneys’ fees and made improvements, “she [could] rent out the house.” (Id. ¶ 10, Ex. 5

9 at 44-45.) Mr. Ekdahl states that based on this correspondence, he “had no doubt” that 10 the Greenwood Property was a vacant investment property and that the Ballard Property 11 was Ms. Russell’s primary residence. (Id. ¶ 11.) Mr. Lindstrom also avers that Ms. 12 Russell represented to him throughout the loan application process that she resided at the 13 Ballard Property and did not claim that she or anyone else lived at the Greenwood

14 Property. (Lindstrom Decl. ¶ 18; see also id. ¶ 19 (stating that he would not have 15 brokered the loans if Ms. Russell had disputed that the Greenwood Property was an 16 investment property).) 17 Capital Compete solicited loan offers from at least five potential lenders, including 18 WADOT.

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Russell v. WADOT Capital Inc, Counsel Stack Legal Research, https://law.counselstack.com/opinion/russell-v-wadot-capital-inc-wawd-2025.