McKenna Long & Aldridge is representing the Federal National Mortgage Association, known as Fannie Mae, in a lawsuit against MWM Carver Terrace, alleging that the company, which owns an apartment community in Northeast Washington, is behind on more than $180,000 in loan payments.
According to Fannie Mae's Dec. 23 complaint, Carver Terrace took out a $9.6 million loan in August 2007, which was to be paid back in monthly payments of $59,922.91, including interest. The complaint, which is signed by McKenna partner John McJunkin and J. David Folds, who is counsel to the firm, contends that after Carver Terrace was slapped with an $85,000 lien by District Electrical Services and a $292,000 judgment in favor of Sitetec Inc. in 2009, Carver Terrace began failing to meet its loan obligations. Carver Terrace failed to make payments in September, October and November, the complaint alleges.
The complaint names Carver Terrace; Myrl Mulligan, the guarantor of Carver Terrace's loan; District Electrical Service; and Sitetec Inc., a construction services company, as defendants. It estimates that the total amount due under the terms of the loan is $8.3 million.
McJunkin asks that a judgment be granted in favor of Fannie Mae for the entire amount of the loan. It also requests that Judge Rosemary Collyer of the U.S. District Court for the District of Columbia issue an injunction against Carver Terrace that appoints a receiver for the loan and enjoin Carver Terrace from collecting rent or other funds from the property without written consent from Fannie Mae. The complaint, which Fannie Mae argues does not preclude it from foreclosing on the property, also seeks attorneys' fees.
No lawyers have entered an appearance on behalf of Carver Terrace or any of the other defendants.