Plaintiff points to First United states’s capacity to deposit the borrowers’ checks into the bank account as evidence that First United states may be the entity actually managing the loans.
First nationwide Bank’s part in analyzing applications, delivering the approved loan requests, funding the loans, and accepting the mortgage profits constitutes enough interstate business to meet this is of “involving commerce” in the concept of 9 U.S.C. В§В§ 1,2. See Staples v. Money Tree Inc., 936 F. Supp. 856, 858 (M.D.Ala.1996).
The FAA makes legitimate any agreement that is”written arbitrate a dispute arising *1374 out of the transaction involving interstate commerce, save upon such grounds as occur at law or in equity for the revocation of a agreement.” Bess, 294 F.3d at 1304. Read more