News & Analysis as of

Home Equity

Texas Home Equity Loan Litigation Update: Eastern District of Texas Reaffirms that Quiet-Title and Breach-of-Contract Claims...

by Locke Lord LLP on

On May 20, 2016, the Texas Supreme Court issued two opinions dealing with the home-equity lending provisions in article XVI, section 50 of the Texas Constitution. In Wood v. HSBC Bank USA, N.A., ___ S.W.3d ___, 2016 WL...more

Supreme Court of Texas; Recent Texas Home Equity Lending Decisions

by Winstead PC on

On May 20, 2016, the Supreme Court of Texas (the "Court") issued its opinions in two cases involving Texas home equity lending – Garofolo v. Ocwen Loan Servicing and Wood v. HSBC Bank USA. The decisions are important for the...more

Have You Considered A Reverse Mortgage?

Are you at least 62 years of age and have 50% or more equity in your primary residence? Then the reverse mortgage, also referred to as a home equity conversion mortgage, is something you might want to think about. Reverse...more

Florida Court of Appeals Reverses Foreclosure of Reverse Mortgage by Expanding the Definition of “Borrower” to Include Surviving...

by Ballard Spahr LLP on

Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more

Homestead Exemption Cannot be Denied on Equitable Grounds

by Snell & Wilmer on

Arizona’s homestead exemption allows a person to protect from certain creditors up to $150,000 of their equity in their residence (dwelling house, condominium, or mobile home). A.R.S. § 33-1101 et seq. This homestead equity...more

DOJ and SEC File Suits Against Bank of America

by Bilzin Sumberg on

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

Court Issues Opinion On Home Equity Lending And Agency Determinations

by Winstead PC on

In The Finance Commission of Texas v. Norwood, the Texas Supreme Court determined that an agency's interpretation of legislation was not outside the review of the courts. No. 10-0121, 2013 Tex. LEXIS 491 (Tex. June 21, 2013)....more

Texas Supreme Court: Discount Points are Subject to Fee Cap for Home Equity Loans and Lines of Credit

by Ballard Spahr LLP on

In a decision that likely will have a dampening effect on the home equity lending market in Texas, the Texas Supreme Court ruled on June 21, 2013, that lenders are prohibited from treating discount points and lender fees as...more

Texas Supreme Court Issues Long-Awaited Ruling on Home Equity Lending

by Jackson Walker on

Due to the complexity of home equity laws in Texas, including the potential forfeiture of principal and interest for even an innocent violation, lenders have always needed to proceed with caution when making home equity loans...more

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