Secured Transactions

July - Oct. 2011

Equitable subrogation
Equitable subrogation is not available to a lender that refinances the debt owed to it. Additionally, a lender who closes a loan without the supervision of an attorney will be precluded from receiving equitable remedy.
Matrix Fin. Servs. Corp. v. Frazer, No. 26859 (S.C. Sup. Ct., Aug. 8, 2011) (Shearouse Adv. Sh. No. 26).