Jury Verdict In Loan Closing Dispute Found To Be Supported By The Evidence

Mealey's (May 18, 2022, 12:57 PM EDT) -- HOUSTON — A federal judge in Texas did not err in denying a borrower’s motion for a new trial on claims that her home equity loan note holder and loan servicer failed to provide the jury with sufficient evidence that their alleged contractual breach pertaining to closing on the loan is immaterial and excused under the doctrine of equitable estoppel because although a provision of the Texas Constitution protects homeowners from “forced, coercive sales at their homes,” the provision does not “serve as a weapon for refinancing homeowners who are not in default or threat of foreclosure to get a free loan,” a Fifth Circuit U.S. Court of Appeals panel ruled May 16 in affirming....