Malvern National Enters Walter Quinn Foreclosure

Malvern National Enters Walter Quinn Foreclosure
More lenders seek foreclosure on Walter Quinn's Little Rock home.

Another party has joined foreclosure litigation against Little Rock businessman Walter Quinn, his wife, Terry, and the Quinn Living Trust.

Malvern National Bank entered the fray to stake its first mortgage claim on the couple’s 7,490-SF home in the Riverview Point neighborhood.

The bank is seeking a $1.2 million judgment on the 2012 loan, which is in default.

Prosperity Bank of El Campo, Texas, started the foreclosure ball rolling in September with its default claim tied to a $4.9 million consent judgment.

That judgment, landed a year ago in Tulsa’s federal court, is connected with a 2013 mortgage secured by the house and a string of Quinn’s business interests.

Both bank debts are personally guaranteed by the Quinns and their Quinn Living Trust, which owns the residence.

The Prosperity debt began as a pair of delinquent loans associated with Walter Quinn’s soured oil and gas investments.

You might recall that Walter Quinn is a leading shareholder in Rock Bancshares Inc., parent company of Little Rock’s $219 million-asset Heartland Bank. He stepped down last year as a bank director and as chairman, president and CEO of Rock Bancshares.