Oxford Consumer Discount Company of North Philadelphia, a Corporation, Plaintiff-Appellant v. Anthony E. Stefanelli…

Summary

The Supreme Court of New Jersey affirmed the Appellate Division's judgment, modifying its retroactivity scheme so that borrowers of secondary mortgage loans made before September 11, 1968 are liable only for the principal without interest unless the loan involved intermediation as defined, in which case the loan is fully void. The case was remanded for the trial court to consider any evidence of intermediation and to determine liability accordingly.