California Court of Appeal August 3, 2007, C052082 (Stoneridge Parkway Partners, LLC v. MW Housing Partners III, L.P.)

Opinion

NICHOLSON, J.

A real property developer and borrower of money sued its lender, claiming the interest charged on the secured loan was usurious. The trial court awarded summary judgment to the lender, ruling the loan was exempt from the constitutional usury prohibition because it was negotiated and arranged by a licensed real estate broker.