Judge rules for Ginnie Mae in Texas Capital Bank lawsuit

Judge rules for Ginnie Mae in Texas Capital Bank lawsuit

A lawsuit over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender has been brought to an end with a summary judgment, but the plaintiffs in the case have vowed to appeal the decision. The suit was filed by Texas Capital Bank (TCB) against Ginnie Mae in late 2023. The bank alleged that Ginnie Mae had “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of doll…