The Texas Supreme Court issued two landmark home equity lending decisions on May 20, 2016. Please join David Tallman, a Consumer Financial Services partner from Mayer Brown’s Houston office, and Debra Bogo-Ernst, co-chair of the Consumer Litigation & Class Actions practice from the firm’s Chicago office, for a discussion of the impact that these decisions will have on lenders, holders and servicers of Texas home equity loans.
Topics will include:
- Claims and defenses which owners of homestead property may assert in connection with a violation of Article XVI, Section 50(a)(6) of the Texas Constitution
- Limitation periods and pleading requirements which apply to such claims and defenses
- Cures for Section 50(a)(6) violations (and which requirements are curable)
- The interplay between the home equity lending provisions of the Texas Constitution and UDAAP/UDAP requirements, including the UDAAP implications of the holding that liens that secure a noncompliant home equity loan are void unless redeemed through an effective cure
- Tips for risk assessment and mitigation
CLE is not available when listening to a recording of this program. In order to receive credit you must have attended the live webinar program.