FIRST GIBRALTAR BANK, FSB v. MORALES

No. 93-8170.

19 F.3d 1032 (1994)

FIRST GIBRALTAR BANK, FSB, and Beneficial Texas, Inc., Plaintiffs-Appellants, v. Dan MORALES, Atty. General, as Attorney General for the State of Texas, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

April 29, 1994.


Attorney(s) appearing for the Case

James E. Essig, John L. Hill, Jr., Liddell, SAPP, Zivley, Hill & LaBon, L.L.P., Houston, TX, for appellant.

Dwight C. Smith, III, Office of Thrift Supervision, Washington, DC, for amicus, Office Thrift Supervision.

Frank Oliver, Austin, TX, for amicus, TX Svgs.

Peter A. Winn, Asst. Atty. Gen., Dallas, TX, Peter Brooke Haskel, Asst. Atty. Gen., Dan Morales, Atty. Gen., Austin, TX, for appellee.

R. Allen Ashcraft, Jr., Houston, TX, for amicus TX Asso. of Realtors.

Before POLITZ, Chief Judge, KING and DAVIS, Circuit Judges.


KING, Circuit Judge:

The district court entered summary judgment in favor of the defendant in this action for declaratory judgment and injunctive relief brought by First Gibraltar Bank, FSB, and Beneficial Texas, Inc. The issue presented for our determination is whether federal statutes and regulations have preempted Texas homestead law to the extent that it prohibits lenders from enforcing liens on home equity created in reverse annuity mortgages or line of credit...

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