S.C. High Court Leaves Adoption Of Mortgage Doctrine To State Assembly

Mealey's (January 20, 2023, 9:13 AM EST) -- COLUMBIA, S.C. — Ruling that adoption of the “replacement mortgage doctrine” is a question better left to the state General Assembly, the South Carolina Supreme Court affirmed a state appellate court’s ruling that because a mortgage lender had record knowledge that borrowers obtained an equity line of credit before providing them with a refinance loan, the lender did not have priority status over the line of credit provider....

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