On Dec. 24, 2018, the day before Christmas, the Superior Court in MB Financial Bank v. Rao, 921 EDA 2018, provided borrowers throughout the commonwealth of Pennsylvania with a proverbial “lump of coal.”

Loan Transaction

Lawence J. Rao Jr. is the owner of record of a property located in Philadelphia. In 2006, Rao entered into a loan transaction with SunTrust Mortgage, Inc. As part of the loan transaction, Rao executed a promissory note in favor of SunTrust.