U.S. Bank National Association, As Trustee for CSMC Mortgage-Backed Trust 2007-3; PHH Mortgage Corporation v. Josef M. Lamell
The Fifth Circuit affirmed a foreclosure judgment, ruling that a borrower waived his statute of limitations defense by signing a broad settlement release. The court further held that unpaid property taxes advanced by the lender constitute secured debt under the Deed of Trust's contractual subrogation clause.