General World News

Texas Capital Bank seeks a partial win in Ginnie Mae suit

Texas Capital Bank (TCB) is seeking a new partial summary judgment in its suit against Ginnie Mae. The suit alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

A summary judgment would allow the presiding judge to decide part of the case prior to going to trial. The company is seeking this outcome in the first count of details ⇒

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