Marsh

Plaintiff Edward E. Marsh, Jr., appeals after the trial court granted summary judgment in favor of defendant Home Federal Savings and Loan Association (Home Federal) on Marsh’s class action complaint seeking general and punitive damages, and accounting for use of trust funds, declaratory relief and attorney’s fees. As set forth in the parties’ agreed statement, the essence of the relief sought in the action is the homeowner borrowers’ recovery of earnings which Home Federal derived from its use of moneys paid to it by its borrowers for the payment of real property taxes and insurance premiums, commonly known as “impound” or “reserve” accounts (here called impounds or impound accounts). The case calls for a determination of the legal status of the impounds, i.e., whether Home Federal held in a trust or in a debtor-creditor relationship the impound accounts, established by Home Federal in making secured loans to homeowner borrowers during the period from March 1962 to December 21, 1970 (when the action was commenced) under loan contracts which used a deed of trust similar to the deed of trust of Marsh and which incorporated the same provisions of a fictitious deed of trust…