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.