CitiMortgage, Inc. v. Just Mortgage, Inc., No. 4:2009cv01909 - Document 242 (E.D. Mo. 2013)

Court Description: MEMORANDUM - Following the disposition of plaintiffs claims through summary judgment, plaintiff Citimortgage, Inc., requested an entry of final judgment against defendant Just Mortgage, Inc., in the amount of $8,806,276.82, under Fed. R. Civ. P. 58(d).1 (Doc. 224 .) In response, defendant did not contest the entry of such a judgment but requested clarification as to whether plaintiff sought to recover from defendant the amount of $8,806,276.82 without conveying the subject loans to de fendant after recovering the judgment. (Doc. 240 .) Plaintiff replied that it does not seek to retain the loans following defendants payment of the monetary damages and requests judgment in accordance with Section 11 of the Correspondent Agreement F orm 200. (Docs. 241 , 29 -1.) Section 11 states that defendant must pay the repurchase price to plaintiff for defective loans upon plaintiffs request. Section 11 further states: If such defective Loan is owned by [plaintiff] at the time of repurcha se by [defendant], [plaintiff] shall, upon receipt of the Repurchase Price, release to [defendant] the related mortgage file and shall execute and deliver such instruments of transfer or assignment, in each case without recourse of warranty, as shall be necessary to vest in [defendant] or its designee title to the repurchased Loan. (Doc. 29 -1 at 5.) Plaintiff requests the repurchase prices of twenty-seven defective loans identified in its amended complaint. (See Doc. 29 .) Therefore, defendan t must pay to plaintiff the repurchase prices in the aggregate amount of $8,806,276.82, and plaintiff must release to defendant the loans in accordance with Section 11 of the Correspondent Agreement Form 200. An appropriate Judgment Order is issued herewith.. Signed by Magistrate Judge David D. Noce on 3/21/13. (KJS)