Judge is delayed in the TCB right case against Ginnie Mae
Government lawyers submitted a motion for a brief judgment on 10 January – a decision of the judge instead of a jury – for “all remaining claims in this case.” They said in their archives against magistrate judge Lee Ann Reno in the American court for the Northern district of Texas that the court has now pronounced the merits that GNMA has acted within his legal authority when it went out of the mortgage interests of deafed Reverse mortgage financing (RMF). “
That is why TCB has “no longer remaining rights or interests in the property that in this case goes in question,” the government said. This is the result of a decision of October by Judge Matthew Kacsmaryk, in which TCB claims that Ginnie Mae has violated the Administrative Procedures Act (APA) by extinguishing his first priority versions about certain reverse mortgage components.
Kacsmaryk did not find the argument convincing, according to a court who refused TCB’s request. Ginnie Mae “was within her right to extinguish and end RMF and absolutely ownership [the] Mortgage portfolio, “said Kacsmaryk in the October application.
That decision by KACSMARYK proves ‘fatal for the two remaining counts of TCB’, the government argued, making it ‘entitled to a short judgment’. The government is of the opinion that other elements of the bank’s complaint are invalid, because “TCB cannot prove that it has not had any ownership rights that are disrupted”, and any potential statement that the government has not paid is the required pits on The loans represented by the official file, according to government lawyers.
In a motion that has been submitted together with the government, TCB asked for extra time to respond to the brief judgment request in the light of KACSMARYK’s decision in October. The original deadline was January 31, but TCB asked for an extension of 21 days. Reno approved the request and expanded the response period until February 21, 2025.
The government will have to answer TCB’s answer by 14 March 2025, according to the most recent Reno decision that was brought before the court on Wednesday.
If a brief judgment is refused and the case claims, Reno ordered the parties to be ready earlier for the process before September 19, 2025. This is not the date for the start of a process, but the boundary on which everything else is classified in a Planning order must be completed. After that point, the district judge will give a separate order with regard to the actual date on which a process would start.
This is the latter in a lawsuit that was initially filed in October 2023. TCB originally claimed that Ginnie Mae ‘in exchange for this’ had put out for no consideration, TCB’s first priority law on tens of millions of dollars to collateral that came out of the collateral The collateral came out of the collateral that came from the collateral that came from the collateral that came out of the collateral that came from the collateral that came from the collateral that came from the collateral [FHA]-Stord [HECM] program.”
TCB argues that this was after Ginnie Mae reportedly had to be used to TCB to “prevent a catastrophic disruption of the HECM program.” In exchange for lending money to RMF, TCB claimed that it received an initial priority right “on certain HECM -superior”. The bank described it as “critically important”, because without this could trust the only collateral TCB, it was a bankrupt company.
