Suit Against Broker Disregards Disclosures
An elderly couple has sued an Arizona mortgage broker, alleging he reneged on a promise to make their first four mortgage payments. They allege they didn't read their disclosures because they relied on verbal statements by the broker -- who claims he told the couple they did not qualify for the loan.

Multifamily Rules
Commercial mortgage activity was heavy with multifamily deals during the most recent week, though a hotel, several offices and two retail complexes also found financing. Transactions were dominated by East Coast properties.