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5th Circ. Backs Ginnie Mae On Reverse Mortgage Liens
By Katryna Perera
A unanimous Fifth Circuit panel affirmed a lower court's ruling in favor of Ginnie Mae in a suit Texas Capital Bank brought over the extinguishment of its lien on reverse mortgage assets, saying there is a "sound statutory basis to conclude" that Ginnie Mae has authority over the entire mortgage once an issuer defaults.
Opinion attached |
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