Texas Case Law Update – Judge Dismisses Putative Class Action Over Home Equity Modifications

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In an ongoing effort to update our financial institution clients about developments in Texas jurisprudence that may impact them, we bring to your attention a recent decision of particular importance to mortgage and home equity lenders in Texas, Hawkins v. JP Morgan Chase Bank, N.A., No. A–12–CA–892 SS, 2013 WL 443954 (W.D.Tex. Jan. 29, 2013). Dallas trial associate Michael F. West contributed to this e-Alert.

United States District Judge Sam Sparks dismisses class action complaint against JP Morgan Chase, and holds that home equity loan modifications did not violate the Texas Constitution, agreeing with and extending United States District Judge John McBryde's similar holding in 2012 in Sims v. Carrington Mortgage Services, LLC.

Please see full alert below for more information.

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Topics:  Dismissals, Home Equity Modifications, JPMorgan Chase, Loans, Mortgages, Past Due Interest, Putative Class Actions

Published In: Civil Procedure Updates, Constitutional Law Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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