Today marks the 230th anniversary of the signing of our nation’s Constitution. On September 17, 1787, thirty-nine delegates signed the Constitution of the United States.  In James Madison: Origin of the Constitutional Convention, December 1835, James Madison wrote, “there never was an assembly of men, charged with a great and arduous trust, who were more pure…

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On October 11, 2016, the court made a historic ruling in PHH Corporation v. Consumer Financial Protection Bureau, striking down as unconstitutional the current structure of the Consumer Financial Protection Bureau (CFPB). Bureau director Richard Cordray will no longer have sole authority over the CFPB. Instead, the Court granted the president the power “to remove…

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In Texas, the forced sale of a homestead is protected by both statute and the State Constitution, which prohibits foreclosure when a home-equity loan fails to include constitutionally mandated terms or conditions. Among these terms and conditions is that lenders that fail to meet their loan obligations may forfeit all principal and interest payments received…

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A home on a chalkboard with home loan written on the board

In 2016, the Texas Supreme Court ruled that liens securing constitutionally non-compliant home-equity loans are invalid until cured. See Wood v. HSBC Bank USA, N.A., (Tex. May 20, 2016). See also TEX. CONST. art. XVI, § 50(c). (“No . . . lien on the homestead shall ever be valid unless it secures a debt described…

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