5th Circ. Asks Texas High Court To Review Home Loan Mods

Law360, Los Angeles (August 15, 2013, 5:51 PM EDT) -- The Fifth Circuit on Wednesday sought the Texas Supreme Court's review of several questions regarding the state's home equity loan policies, saying the relevant laws and regulations do not establish a clear distinction between a modification and a refinance. 

In an unpublished, non-dispositive opinion, a three-judge panel certified four questions to the Texas high court as part of its review of an appeal by homeowners Frankie and Patsy Sims, who filed a proposed class action last year alleging loan modification agreements they reached with their lender violated provisions of Texas constitutional law.

The appellate panel said it needed clarification on several...

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